Law Society Of Ontario Referral Fee Agreement

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The Law Society`s Advertising and Pricing Agreements Working Group is considering changes to advertising, referral fees, and possible pricing and other practices. The working group found that clients often do not know that they are being recommended or that they are being charged for the recommendation. It states that referral fees, which were once between 10 and 15 per cent, are now between 25 and 30 per cent, and misleading advertising fuels the lack of transparency of referral fees. Home / News / Law Society sets a referral fee cap and allows transparency measures Lawyers and paralegals must record transfer fees paid and received in their books and records and report on referral fee practices in their annual reports to the Law Society. Measures to increase the transparency of removal rights regimes were also approved. The cap and additional regulatory measures were recommended by the Law Society`s Professional Regulation Committee and the Advertising and Fee Arrangements Working Group to address concerns that certain pricing agreement practices may be misleading or detrimental to customers. At its February meeting, the convocation voted in principle to introduce a ceiling and new regulation of referral fees. Finally, with regard to the issue of advertising, the working group examines issues of taste and professionalism, while recognizing that it is extremely difficult to measure or codify taste and that attempts to do so will inevitably lead to disagreements.