Consent Order

REAL ESTATE COUNCIL OF BRITISH COLUMBIA DISCIPLINE DECISION

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

Issue: Moonkyu (Sunny) Rim,managing broker,KLS Realty Ltd., Vancouver, entered into a Consent Order with the Council that he committed professional misconduct within the meaning of section 35(1)(a) of the Real Estate Services Act in that he:

1. failed, contrary to section 6-2(c) of the Real Estate Services Act, to be responsible for control and conduct of the real estate business of the brokerage, including the supervision of the representatives who were licensed with the brokerage;
2. failed, contrary to sections 27(1)(a) and 27(1)(b) of the Real Estate Services Act, to promptly pay or deliver to the brokerage all money held or received from, for or on behalf of a principal in relation to real estate services and all money held or received on account of remuneration for real estate services;
3. engaged in wrongful taking, contrary to section 35(1)(c) of the Real Estate Services Act, in that he deposited money held or received from, for or on behalf of a principal in relation to real estate services into his personal bank account rather than the brokerage`s pooled rental management trust account and used those trust funds for personal expenses; and
4. failed, contrary to:
   1. section 3-1(1)(a) of the Council Rules, to be actively engaged in the management of the brokerage;
   2. section 3-3(1)(b) of the Council Rules, to ensure that the business of the brokerage was carried out competently and in accordance with the Real Estate Services Act and Council Rules;
   3. section 3-1(1)(c) of the Council Rules, to ensure an adequate level of supervision for representatives and others who performed duties on behalf of the brokerage;
   4. section 3-1(3)(a) of the Council Rules, to ensure the trust accounts and records of the brokerage were maintained in accordance with the Real Estate Services Act, Regulations, Council Rules and Bylaws;
   5. section 3-1(3)(b) of the Council Rules, to ensure proper management and control of documents and other records related to licensing and regulatory requirements; and
   6. section 7-4(2) of the Council Rules, to review, date and initial the monthly reconciliations required under sections 8-2(b) and 8-3(b) of the Council Rules for each trust account maintained by the brokerage.

Results

Moonkyu (Sunny) Rim's managing broker's licence was suspended for five (5) years, from December 29, 2012 to December 28, 2017 (inclusive), that his licence as a representative or associate broker be suspended for two (2) years from December 29, 2012 to December 28, 2014 (inclusive). Further, upon relicensing in any category, Mr. Rim will be under the direct supervision of a managing broker for a period of two (2) years and the managing broker or any successor managing broker will provide quarterly reports to the Council indicating that he has reviewed Mr. Rim's contracts and to the best of his/her knowledge, that Mr. Rim has complied with the Real Estate Services Act, Regulations, Council Rules and Bylaws and that the managing broker will report anything of an adverse nature with respect to Mr. Rim's activities. Further, with respect to the suspension of Mr. Rim's managing broker's licence, if at the end of the suspension period Mr. Rim applies to be relicensed as a managing broker, Mr. Rim will be subject to a Qualification Hearing. As well, Mr. Rim was ordered to successfully complete the Real Estate Trading Services Remedial Education Course. KLS Realty Ltd. and Mr. Rim were ordered to be jointly and severally liable to pay a discipline penalty to the Council in the amount of $5,000.00, be jointly and severally liable to pay audit expenses of the Council in the amount of $2,493.75, and be jointly and severally liable topay enforcement expenses to the Council in the amount of $1,000.00.