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Brokerage Standards Manual

VII. Brokerage Office Business Practices

Changes In Licensee Information

A licensee must provide a mailing address to the Council and must promptly deliver a notice to the Council if the mailing address changes.

As required by section 2-21 of the Rules, a licensee must promptly notify the Council in writing if:

  • The licensee is subject to a disciplinary or regulatory proceeding in which the licensee may have or has been made subject to a disciplinary sanction (which includes a warning, reprimand, fine, educational requirement, imposed restriction or condition, suspension, cancellation or any other sanction) either in British Columbia or elsewhere under legislation relating to:
    • real estate activities;
    • insurance activities;
    • securities activities;
    • mortgage brokers;
    • accountants;
    • notaries; or
    • lawyers.
  • The licensee has any court order or judgment made against the licensee in relation to:
    • real estate services;
    • a dealing in insurance, mortgages or securities; or
    • misappropriation, fraud, or breach of trust.
  • Any business that the licensee owns, or of which the licensee has been a director, officer or partner at any time during the past two years has any court order or judgment made against the business in relation to:
    • real estate services;
    • a dealing in insurance, mortgages or securities; or
    • misappropriation, fraud, or breach of trust.
  • The licensee is charged with or convicted of an offence under a federal or provincial enactment or under a law of any foreign jurisdiction, excluding:
    • highway traffic offences resulting only in monetary fines or demerit points, or both; and
    • charges initiated by a violation ticket as defined in the Offence Act or by a ticket as defined in the Contraventions Act (Canada)
  • The licensee is the subject of any bankruptcy, insolvency or receivership proceedings.
  • Any business that the licensee owns, or of which the licensee has been a director, officer or partner at any time during the past two years, is the subject of any bankruptcy, insolvency or receivership proceedings.

In addition to providing notice, the licensee must provide the particulars of the matter and any other additional information required by the Council. The notice provided to the Council by the licensee must also be provided to the licensee’s managing broker.