May 16, 2023

Surrey lawyer Khushpal S. Taunk has been fined $25,000 after reaching a consent agreement with the Law Society to resolve misconduct relating to trust accounting rules.

Taunk admitted that he failed to record multiple transactions and maintained $327,185.90, more than the $300 permitted amount of their own funds in a pooled trust account between 2017 and 2020.

In determining the disciplinary action, the Law Society considered Taunk’s professional conduct record, which consisted of a citation, a conduct review, two referrals to Practice Standards and a one-month suspension for professional misconduct. Taunk was cooperative during the consent agreement resolution process, made fulsome admissions and did not misappropriate any client trust funds or engage in any dishonest conduct.

Taunk has agreed to pay a fine of $25,000 and has revised his billing and accounting practices to ensure that he is in full compliance with the Law Society’s accounting rules.

A summary of the consent agreement can be found here.