Example: If a client provides a licensee with $15,000...
So we now know that usual limit is $7,500 (CAD) per client file, so let's say a client provides a licensee with $15,000 Canadian cash for three unrelated matters, can the licensee accept the cash?
According to the LSO, in this scenario, a licensee is permitted to accept $15,000 cash for three separate client matters, as long as the amount of cash provided for each client matter is not more than a total of $7,500 Canadian.
The cash limit applies to the matter, not the client.
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