By-Law 9 sets out the Law Society's record keeping requirements.
Section 18 lists the minimum financial records you must keep to record all receipts and disbursements of trust and non-trust money and other property in connection with your practice. The section includes details required in these records. Detailed duplicate deposit slips should include for each item the source of funds, related client and amount. Further information on electronic trust transfer records and Teranet withdrawal forms can be found in Sections 12 and 15 respectively, of By-Law 9.
Section 20 describes the additional records you must keep if you hold mortgages in trust, either directly or through a related person or corporation, and Section 24(1) sets out the additional records you must maintain in your client file if you act for or receive money from a lender unless the transaction falls under one of the exceptions in Section 24(2).