The Advisory: Volume 9, Issue 1, March 2011
Trust Safety Program Marks First Milestone
By Janet Dixon, QC, Senior Counsel, Law Society of Alberta
THE NEW Trust Safety program has marked its first milestone with a 100 per cent compliance rate among the first group of filers.
All law firms with a January year-end have complied with the new regulatory requirements on submitting either the Application to operate a Law Firm or the Exemption form. There were approximately 115 law firms with a January year-end.
Law firms with a February year-end have also completed their filing requirements, and there were 45 firms with this year-end.
Trust Safety and Membership Services teams have worked together on this process, reported Glen Arnston, Manager, Trust Safety.
The next milestone will come soon enough with the download of the law firm accounting data.
Law firms with a year-end in 2011 are asked to download the Law Firm Self-Report (transition year only) form from the Law Society of Alberta’s website at www.lawsociety.ab.ca.
We are very pleased with the cooperation and support of the profession in the implementation of the Trust Safety program. It is encouraging to receive positive feedback from lawyers about the commitment we all share to maintain the highest standards of safety for funds we hold on behalf of others.
More details on the program, including the program design, rule changes and frequently asked questions are posted on the website at www.lawsociety.ab.ca Lawyers are encouraged to contact the Trust Safety department for further information at 403-229-4740 or firstname.lastname@example.org.
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