DECEMBER 14, 2012
Where can I find information on handling cash and
preventing money laundering?
The following resources are available from the Law Society:
• FAQs - The Knowledge Tree
• Bookkeeping Guide
• Lawyers’ Rules of Professional Conduct
• Paralegal Rules of Conduct
• By-law 9: Financial Transactions and Records
These resources and more are available on the Law Society’s website
at www.lsuc.on.ca, under For Lawyers and For Paralegals.
Frequently Asked Questions
I understand that the Law Society limits the amount of cash
that lawyers and paralegals can accept, to help prevent
money laundering. What is the definition of cash?
For the purposes of By-Law 9 [s. 1(1)], cash means
•;current coin within the meaning of the Currency Act
•;notes intended for circulation in Canada issued by the Bank
of Canada pursuant to the Bank of Canada Act, and
•;current coin or bank notes of countries other than Canada
Note that bank drafts, money orders, electronic or wire transfers
of funds are not considered cash for purposes of the By-Law.