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Source:
www.supremecourt.gov.sg |
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STATEMENT FROM THE CHIEF JUSTICE REGARDING THE
ALLEGED MISAPPROPRIATION OF CLIENTS' MONEYS BY MR DAVID RASIF |
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Chief Justice Chan Sek Keong has expressed
his shock and concern about this incident to the President of the Law
Society, Mr Phillip Jeyaretnam, especially after the rules on handling
of clients' moneys by law firms were tightened in 2004 by the
Solicitors' Accounts Rules. |
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How this event has happened will be fully
investigated by the CAD and also separately by the Law Society itself.
It may be necessary to put in place even stricter rules. |
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One approach the Law Society should consider
seriously is limiting the total amount of clients' moneys that small law
firms may hold at any one time, or on a per client basis, without
endangering the viability of small practices. |
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The President of the Law Society shares
these concerns and will inform the Chief Justice as soon as possible on
the proposals that the Law Society has to prevent this kind of incident
from occurring again. |
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Source:
www.supremecourt.gov.sg
Media Release 7 Jun 2006 |
SingaporeUpdate.com All Rights Reserved
Chief Justice expresses shock about
lawyer's alleged misappropriation of clients' moneys