Request for Comment: Mandatory Succession Planning
October 4, 2022
The Law Society of Ontario’s Trustee Services Working Group has recommended that licensees in private practice maintain a succession or business continuity plan for their legal services business. On the basis of this recommendation, the LSO’s Professional Regulation Committee issued a Consultation Report, which provides further background and generally describes the proposal, including: a) the elements of a mandatory succession plan; b) the role of the successor; c) the resources that may be available to licensees to implement this initiative; and d) the reporting requirements.
The CCLA is in the process of preparing a detailed submission in response to this consultation process and would very much like to hear your views on this important matter. It is expected that any LSO initiative regarding succession planning and business continuity will primarily affect small firms and sole practitioners and we very much encourage these practitioners to provide us with their views so that they can be reflected in the CCLA’s submission.
Should you have any comments regarding the LSO’s mandatory succession planning initiative, please send them to Michelle L. LaPierre at: mlapierre@lapierrelaw.ca. We ask that any comments be provided by October 24, 2022.
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