Permanent Surrender of Licence

REAL ESTATE COUNCIL OF BRITISH COLUMBIA

In the matter of the Real Estate Services Act

S.B.C. 2004 ch. 42

NOTICE OF PERMANENT SURRENDER OF LICENCE

John Shiong-Choy Ma, currently unlicensed, while licensed as an associate broker with Multiple Realty Ltd., Vancouver, requested the Real Estate Council of British Columbia to discontinue disciplinary proceedings against him as he had decided to permanently retire from real estate practice. Mr. Ma was facing a disciplinary hearing into his professional conduct as managing broker with Multiple Realty Ltd. and would have been required to appear before a hearing committee of the Real Estate Council to respond to these allegations.

The allegations against Mr. Ma in the Notice of Discipline Hearing are that he committed professional misconduct within the meaning of section 35(1)(d) of the Real Estate Services Act by demonstrating incompetence in respect of his responsibilities as managing broker; and/or within the meaning of section 35(1)(c) of the Real Estate Services Act in that he failed to fulfill his responsibilities as managing broker for the said brokerage as required by section 3-1 of the Council Rules and section 6(2) of the Real Estate Services Act in that he:

1. failed to ensure that there was an adequate level of supervision over a licensee of the brokerage, contrary to section 3-1(1) of the Council Rules;
2. failed to ensure that the business of the brokerage was carried out competently and in accordance with the Real Estate Services Act, Regulation, Rules and Bylaws, contrary to section 6(2) of the Real Estate Services Act and section 3-1(1)(b) of the Council Rules;
3. failed to inquire further before crediting bank drafts of $110,000, $25,000 and $40,000 to a transaction on Hudson Street, Vancouver, BC under circumstances where he knew or should have known that further inquiries were necessary, contrary to sections 3-1(2) and (3) of the Council Rules;
4. failed to inquire further before releasing the buyer's deposit for a transaction on Hudson Street, Vancouver, BC to the sellers under circumstances where he knew or ought to have known that further inquiries were necessary, contrary to sections 3-1(2) and (3) of the Council Rules;
5. failed to inquire further before crediting a bank draft of $400,000 to a transaction on East 6th Avenue, Vancouver, BC under circumstances where he knew or ought to have known that further inquiries were necessary, contrary to sections 3-1(2) and (3) of the Council Rules;
6. failed to inquire further before releasing money paid to the brokerage in trust for a transaction on East 6th Avenue, Vancouver, BC to unrelated third parties under circumstances where he knew or ought to have known that further inquiries were necessary, contrary to sections 3-1(2) and (3) of the Council Rules; and
7. failed to determine that deposits had not been received for transactions on Sophia Street, Vancouver, BC and Hastings Street, Vancouver, BC and failed to provide notice to all parties of this fact, contrary to section 3-1(4) of the Council Rules.

There has been no discipline hearing or finding of fact with respect to these allegations, and no admissions to these allegations by Mr. Ma.

The Council was satisfied that, in the circumstances of this case, permanent surrender of Mr. Ma's licence in lieu of proceeding with disciplinary action was appropriate. The permanent surrender of Mr. Ma's licence was effective as of February 26, 2015, although he permanently surrendered his licence to the Real Estate Council on February 17, 2015.