The following records shall be maintained for at least the 10 year period immediately preceding the lawyer’s most recent fiscal year end:
1) Trust Receipt Book of Original Entry [s. 18(1) of By-Law 9] identifying
- each date on which money is received in trust for a client
- the method by which money is received
- the person from whom money is received
- the amount of money received
- the purpose for which money is received
- the client for whom the money is received in trust.
2) Trust Cash Disbursements Book of Original Entry [s. 18(2) of By-Law 9] showing all disbursements paid out of money held in trust for a client and identifying
- each date on which money is disbursed
- the method by which money is disbursed, including the number or similar identifier of any document used to disburse money
- the person to whom money is disbursed
- the amount of money disbursed
- the purpose for which money is disbursed
- the client on whose behalf the money is disbursed.
3) Clients’ Trust Ledger [s. 18(3) of By-Law 9] showing separately for each client for whom money is received in trust
- all money received
- all money disbursed
- any unexpected balance.
4) Record of Monthly Comparisons of Trust Liabilities and Trust Bank Reconciliations [s. 18(8) of By-Law 9] showing
- monthly comparison of the total balances held in trust account(s) and the total of all unexpected balances held in trust for clients as they appear from the financial records
- reasons for any differences between the totals
- records to support the monthly comparisons, including
- detailed monthly listing showing the amount of money held in trust for each client and identifying each client
- detailed monthly reconciliation of each trust bank account.
5) Record of Property Held in Trust [s. 18(9) of By-Law 9] showing all property other than money held in trust for clients, describing each property and identifying the
- date on which the lawyer took possession of each property
- person who had possession of each property immediately before the lawyer took possession
- value of each property
- client for whom each property is held in trust
- date on which possession of each property is given away
- person to whom possession of each property is given.
6) Banking Documents for all Trust and General Accounts [s. 18(10) of By-Law 9], in particular
- bank statements
- pass books
- cashed cheques
- detailed duplicate deposit slips.
7) Electronic Trust Transfer Documents [s. 18(11) of By-Law 9], in particular
- signed electronic trust transfer requisitions
- signed printed confirmations of electronic transfers of trust funds.