December 6, 2002
Convocation approves submission to U.S. Securities Commission
Convocation approved a submission to the U.S. Securities and Exchange Commission on its Proposed Rule: Implementation Of Standards Of Professional Conduct For Attorneys ("the proposed rules") released on November 21, 2002. The proposed rules, mandated by Section 307 of the Sarbanes-Oxley Act of 2002, not only apply to American lawyers but foreign lawyers appearing and practicing before the Commission. The Commission has requested comment from interested parties on the proposed rules by December 18, 2002.
The Society's submission focuses on the Society's authority to regulate Ontario lawyers appearing before the Commission, the sufficiency of the Society's Rules of Professional Conduct as an instrument of regulation in respect of one particular requirement in the proposed rules (the "up-the-ladder" reporting requirement), and the requirement for a lawyer's "noisy withdrawal" from representation.
Working group to monitor Paralegal issue
Convocation has agreed that the issue of Paralegals will be monitored by a working group of the Government Relations Committee. The committee will report its findings to Convocation.