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Consent Order
- Licensee
- Allan Browne, Allan Charles Browne
- Brokerage at Time of Sanctioned Activity
- Current Brokerage
- Homelife Glenayre Realty Chilliwack Ltd., Chilliwack
- Consent Order Date
- 23 June 2017
Summary
Allan Charles Browne failed in his responsibilities as the managing broker of Homelife Glenayre Realty Chilliwack Ltd.
Trust monies were deposited into Homelife Glenayre Realty Chilliwack Ltd.'s general account when they should have been deposited into a trust account. This resulted in a shortfall in the trust account.
It is the responsibility of the managing broker and the brokerage to ensure that trust funds are promptly deposited into the brokerage trust account. Mr. Browne and Homelife Glenayre Realty Chilliwack Ltd. did not ensure that the funds were deposited into the correct account, and contravened section 27(2) of the Real Estate Services Act.
Managing brokers have a duty to ensure the business of the brokerage is carried out in accordance with the Real Estate Services Act, Regulations, Rules and Bylaws. By failing in this duty, Mr. Browne contravened sections 6(2)(b), 6(2)(c) of the Real Estate Services Act, and sections 3-1(1) and 3-1(3) of the Rules.
Results
A discipline committee of the Council has ordered the following:
- Mr. Browne and Homelife Glenayre Realty Chilliwack Ltd. are each reprimanded, and are equally responsible for paying a discipline penalty of $3,000.00 to the Council.
- Mr. Browne and Homelife Glenayre Realty Chilliwack Ltd. are equally responsible for paying enforcement expenses of $1,500.00 to the Council.
- At its own expense, Homelife Glenayre Realty Chilliwack Ltd. will be audited within the time period directed by the Council.
- Homelife Glenayre Realty Chilliwack Ltd., within the time period directed by the Council, must promptly provide monthly trust account reconciliations to the Council on a monthly basis, for a period of six months.
- At his own expense, Mr. Browne must successfully complete the Broker's Remedial Education Course.
- Homelife Glenayre Realty Chilliwack Ltd. must fully comply with the trust accounting and financial records requirements in the Real Estate Services Act and the Rules, and provide training and supervision to its accounting staff to ensure compliance.