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LICENSEE: Yan (Isabel) Wen
CURRENT BROKERAGE: Regent Park Fairchild Realty Inc., Richmond
BROKERAGE AT TIME OF SANCTIONED ACTIVITY: Same as above
CONSENT ORDER DATE: April 4, 2019


 

SUMMARY

A discipline committee of the Real Estate Council of British Columbia (the “Council”) accepted the Consent Order Proposal submitted by Ms. Wen and found that Ms. Wen committed professional misconduct:

  1. In that while she was acting as the agent for the buyer (“Buyer”) in connection with the purchase and sale of a property located at XXXXX Yale Road, near Chilliwack, BC (“Property”) by way of a contract of purchase and sale dated March 8, 2015 (“Contract”), she:
    1. failed to act honestly and with reasonable care and skill when she signed certain parts of the Contract on behalf of the Buyer without first receiving the Buyer’s authorization in writing to do so as is required by section 5-3(1) of the Rules;
    2. failed to exclude the operation of sections 27(1) and 27(2) of the RESA by obtaining the agreement referred to in section 27(4) of the RESA before she received the Buyer’s deposit monies in her personal bank account by wire transfer;
    3. failed to promptly deliver to her brokerage all money received from a principal in relation to real estate services when she received the Buyer’s deposit monies in her personal bank account by wire transfer and then failed to deliver those monies to her brokerage;
    4. failed to keep her managing broker informed of the real estate services being provided and the other activities being performed by her on behalf of the brokerage when she failed to notify her managing broker that she was signing replacement pages in the contract without the required authorization in writing from the Buyer and that she had received the Buyer’s deposit monies in her personal account by wire transfer without transferring them promptly to the Brokerage; and
    5. failed to immediately notify her managing broker that a deposit referred to in section 3-1(4) of the Rules had not been received in the required manner when she received the Buyer’s deposit monies in her personal account by wire transfer without transferring them to the brokerage.
  2. While she was acting as the agent for the Buyer in connection with the purchase and sale of the Property by way of the Contract, she knowingly assisted the Buyer to avoid the application of the rules and requirements established by the Financial Transactions and Reports Analysis Centre of Canada by allowing the Buyer to transfer money directly to her personal bank account in Canada and when she knew or believed the Buyer would make the transfer using a name other than her own name.

RESULTS

A discipline committee of the Council has ordered, and Ms. Wen has agreed to, the following penalties:

  1. a suspension of two hundred and seventy (270) days (from May 22, 2019 to February 22, 2020, inclusive);
  2. Ms. Wen is not to act as an unlicensed assistant during the time of her licence suspension;
  3. a discipline penalty of $7,500;
  4. successful completion of the REIC2600 Ethics in Business Practice Course;
  5. Ms. Wen’s licence shall include a condition requiring enhanced supervision by a managing broker for a period of not less than twelve (12) months following the end of her suspension period, as more particularly described in Schedule 1 to the Order; and
  6. enforcement expenses of $1,500.

CONTRAVENTIONS

Real Estate Services Act

Real Estate Rules


CONSENT ORDER: Full consent order available as a PDF and through the Canadian Legal Information Institute
POSTED ON: May 22, 2019
LENGTH OF PUBLICATION ON WEBSITE: 10 years