Law Foundation gains new rate with HSBC Bank Canada

Law Foundation Chair Don Silversides, QC commends HSBC Bank Canada for its commitment to paying a new rate of return on lawyers' pooled trust accounts, ensuring the HSBC a spot on the Law Foundation's list of preferred financial institutions.

As of July 1, 2002, interest paid to the Law Foundation on lawyers' pooled trust accounts by the bank is at a net rate of prime less 2.9%, after service charges.

Thanks are extended to Larry Doerksen, Assistant Vice President, and Peter Paget, Manager, Commercial Cash Management, for supporting this initiative.

The Law Society, the Law Foundation, and the Canadian Bar Association (BC Branch) encourage lawyers to consider which financial institutions provide the best support to the Law Foundation when deciding where to place their trust accounts.