On July 1, 2021, reforms to continency fees came into effect through the following:
· Solicitors Act – amendments including the repeal of s. 28.1(8), which prohibited the inclusion of costs in the amount on which a contingency fee calculation is based.
· O. Reg. 563/20: Contingency Fee Agreements – a new regulation requiring the use of a new standard form Contingency Fee Agreement (CFA), incorporated by reference.
· Rules of Professional Conduct – amendments pertaining to required disclosures, information and reporting relating to CFA’s.
The OBA is presently working with the Law Society and Ministry of the Attorney General to remedy potential situations in which the application of the new requirements may be broader than intended.