New start date for client identification and verification rules

At their October meeting, the Benchers approved an implementation date of December 31, 2008 for the Law Society’s new client identification and verification rules.

Originally slated to take effect November 1, the Benchers have delayed implementation of the rules to allow for consideration of suggestions received from members and others.

The proposed rules, recommended by the Law Society’s Act and Rules Subcommittee,

are based on a model rule prepared by the Federation of Law Societies of Canada as part of the legal profession’s commitment to the fight against money laundering. These rules will be the basis for the requirements that will be expected of all lawyers after December 31, subject to any minor adjustments that may be recommended by the Subcommittee.

Frequently asked questions and information about the new rules are available online. See this month’s Practice Watch for additional resources to help you implement the rules.