July 28, 2021 – Integrated Regulator of the Financial Services Sector: BCFSA

On Wednesday, July 28, at 10:00 am we were joined by Micheal Noseworthy, Erin Seeley and David Avren who provided an update on the integration of the Real Estate Council of BC (RECBC) and the Office of the Superintendent of Real Estate (OSRE) with the BC Financial Services Authority (BCFSA), planned for August 1, 2021. The session gave an overview of the impacts of the integration, including the future BCFSA executive structure, amendments to the Real Estate Services Act, and the plan for seamless service delivery.

- - BCREA wants to remind all managing brokers that BCREA has a Legal Defence Reserve to support REALTORS^® acting with high professionalism, who are facing disciplinary matters that are provincial in nature. This Reserve can be used to cover legal and other costs related to litigation and/or disciplinary matters. This Reserve recently funded a case where re-licensing was delayed as a result of an outstanding disciplinary issue that wasn’t egregious in nature. If you or one of your REALTORS^® is facing a disciplinary issue, either similar to this issue now or in the past, or a disciplinary issue that you believe is provincial in nature, reach out to [email protected]. Thank you for all the questions asked during the session. Unfortunately, we did not have time to address many of them during the session. We are currently in the process of reviewing those questions and gathering answers and references to address them.
    Stay tuned for more information on the BCFSA amalgamation after August 1, 2021.

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Past Sessions

November 1, 2023 – Managing Brokers Policies and Procedures Manual Template & Standard Forms Launch

On Wednesday, November 1, 2023, we were joined by Jim McCaughan, Professional Services Support Advisor at BCREA, and Ryan DeLuca, Managing Director at 25th Hour Regulatory Consulting. Jim provided an informative overview of BCREA’s November 2023 Standard Forms Launch, including a summary of the forms change process, standard forms resources, a synopsis of the standard forms launch itself, and more. Ryan gave an invaluable presentation on topics such as why brokerages need a policies and procedures manual, things to consider when creating the manual, sections to include in the manual, best practices, and more.

Session slide deck (25th Hour Regulatory Consulting)
Session slide deck (BCREA)

Resources:

BCREA Standard Forms Pre-Launch Package
BCREA Policies & Procedures Template
- Please note clicking on the Managing Brokers Policies and Procedures Manual Template link above will directly download a Word document that is not viewable on your device until downloaded.
BCREA Standard Forms email address: [email protected]
Ryan DeLuca – BCREA Managing Brokers’ Conference Speaker Video
BCREA Managing Broker Support Line:
- Lower Mainland: 604-520-9440
- Toll-Free: 1-844-414-8655
- Email: [email protected]

The views expressed in these presentations are those of the speakers and do not reflect the views of BCREA or its member boards. Please note, the content of these presentations was current as of the date of each session and we cannot guarantee the accuracy of information provided in past sessions.