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ARTICLE · 12 FEBRUARY 2025

Alberta Lawyer Faces Sanctions For Failing To Identify A 'Pump And Dump' Scheme

A recent decision [PDF] from the Law Society of Alberta (LSA) Hearing Committee highlights the particular responsibility of professionals not to allow themselves...

CanadaInternational Law

A recent decision [PDF] from the Law Society of Alberta (LSA) Hearing Committee highlights the particular responsibility of professionals not to allow themselves to be caught up in the misconduct of others. The LSA considered the case of a lawyer in Alberta who admitted to

  • failing to have taken proper or sufficient steps to identify if his client was in breach of Alberta securities law
  • issuing accounts to his client from his professional corporation that improperly identified legal services, having failed to distinguish between legal fees and disbursements

The LSA accepted the parties' joint submission on sanctions and issued a one-month suspension of the respondent, plus $70,000 in costs.

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