| Bar Council seeks to tighten rules on handling of clients’ money |
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| Monday, 11 June 2007 07:59am | |
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Among the changes being looked at include: Comments (5)
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Any Exceptions To The Moves
written by Ng Hong Chai, Monday, June 11 2007 02:29 pm
I do hope that whoever is drawing up the proposed Rules should think of coming up with the exceptions as well. One obvious example, with due respect, is to give exemptions to a retired Judge who wishes to open a sole proprietorship, from such rules as requiring a book-keeper to countersign a clients' account cheque. It would be an insult to such a retired Judge to be subjected to the control of a lay person.
LIMITED EXPERIENCE SHARED
written by Stephen Tan Ban Cheng, Monday, June 11 2007 08:18 pm
Let me just comment on the five proposals, one by one, and share my limited experience before I try and give my view on Hong Chai's "exception."
Is regulation really the answer?
written by Shanmuga Kanesalingam, Monday, June 11 2007 09:29 pm
I am always sceptical about increasing regulation to curb these sorts of excesses. As Stephen has rightly pointed out, such regulations can always be avoided. Why is there more dishonesty? Because of the general culture of corruption that pervades our society now. The general increase in the cost of living, coupled with the reduction of fee income, and the proliferation of lawyers. We need to spend more money, yet earn less money and have to compete with more people. Whilst an honest man full of integrity and of a high and noble character will resist temptation no matter how desperate, how many of us are really like that? About as many as have given a tip to a land office clerk to expedite a land transaction? As many as have tipped a court clerk to get a document out quickly? The bad hats will always be bad hats, no matter how much regulation we have. More regulation will create even more work for honest lawyers, whilst dishonest lawyers will still evade, avoid and ignore the rules.
Composition of Partnerships written by Ng Hong Chai, Tuesday, June 12 2007 08:17 pm
I am just wondering if a partnership of husband and wife, father or mother and son or daughter be allowed, if partnership is made a necessary condition to practice, particularly in the field of conveyancing. In my humble opinion, such partnerships could be more dangerous than sole proprietorships. Could anybody enlighten me? Write comment
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This is certainly a timely move to alleviate all the fears caused by the recent reports of CBT cases involving lawyers. However, this sole proprietor issue should be handled with care as there are many sole proprietors who are reputable and trustworthy. Perhaps, it is better for the clients to make a choice between using a partnership and a sole proprietor, taking into consideration of what risk they are going to take and so on and so forth. For eg, a sole proprietor who has more than 40 years of experience would be much better than a new partnership.
Nicole Tan Lee Koon