Section 57(1) of the Law Society Act requires all licensed lawyers and paralegals in Ontario to instruct their financial institutions to remit interest from their mixed trust accounts to The Law Foundation of Ontario. Section 57(2) requires licensees to file reports directly to The Law Foundation to provide account information.
To assist licensees in complying with s. 57(1), The Law Foundation has prepared a template “Letter of Direction” to financial institutions.
To assist licensees in complying with s. 57(2), all forms prescribed by regulation are available here:
