REAL ESTATE COUNCIL OF BRITISH COLUMBIA
In the matter of the Real Estate Services Act
S.B.C. 2004 ch. 42
AND in the matter of a Consent Order pursuant to Section 41 of the Real Estate Services Act
Respondent: FREEMAN MING YEE
CORDEX REALTY
File: 413-06
Date of Consent Order: June 20, 2007
Complaint:
Contravention of section 35(1)(a) of the Real Estate Services Act, sections 2-19, 2-21 and 2-22 of the Council Rules/Professional misconduct, promptly notify Council of discipline proceedings, promptly reply to Council inquiries
Issue:
Cordex Realty & Management (BC) Ltd. dba Cordex Realty, Vancouver, currently unlicensed, committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act in that it contravened section 2-22 of the Council Rules in that it failed to promptly notify the Council, in writing, of a change in the directors or officers of the brokerage.
Issue:
Freeman Ming Yee, currently unlicensed, who, while licensed as managing broker, Cordex Realty & Management (BC) Ltd. dba Cordex Realty, Vancouver, committed professional misconduct within the meaning of section 35(1)(a) by (a) contravening section 2-21 of the Council Rules in that he failed to promptly notify the Council in writing that the Registrar of Mortgage Brokers had suspended his registration as a sub-mortgage broker, pursuant to a Consent Order dated April 1, 2006, for a period of four months and that Cordex Realty pay an administrative penalty in the amount of $50,000 on or before April 30, 2006, pursuant to the said court order; and (b) contravened section 2-19 of the Council Rules in that he failed to promptly respond to the inquiries of the Council with respect to his failure to notify the Council of the said disciplinary proceedings under the Mortgage Brokers Act.
Result:
Cordex Realty & Management (BC) Ltd. dba Cordex Realty was reprimanded for professional misconduct as described above after an Agreed Statement of Facts, Proposed Acceptance of Findings and Waiver was entered into between the Real Estate Council and Cordex Realty & Management (BC) Ltd. dba Cordex Realty, and a Consent Order was issued. Further, Cordex Realty & Management (BC) Ltd. dba Cordex Realty and Freeman Ming Yee are jointly and severally liable to pay enforcement expenses to the Council in the amount of $750.00.
Result:
Freeman Ming Yee is prohibited from applying for a licence either as a managing broker, an associate broker, or representative, for a period of sixty (60) days from May 18, 2007 to July 18, 2007, for professional misconduct as described above after an Agreed Statement of Facts, Proposed Acceptance of Findings and Waiver was entered into between the Real Estate Council and Freeman Ming Yee, and a Consent Order was issued. Mr. Yee is required to pay a discipline penalty payable to the Council in the amount of $5,000 and must successfully complete the disciplinary education assignments applicable to Chapter 2 (Mandatory Requirements under the Real Estate Services Act). Further, Freeman Ming Yee and Cordex Realty & Management (BC) Ltd. dba Cordex Realty are jointly and severally liable to pay enforcement expenses to the Council in the amount of $750.00.
P: July 25, 2007 R: Jul 25, 2012