An independent advisory group has been named to look into the Real Estate Council of B.C.’s handling of licensee misconduct, in the wake of a report from The Globe and Mail regarding the unethical and possibly illegal use of assignment clauses and “shadow flipping”.
“The advisory group will examine the ways the council identifies and responds to licensee conduct that could pose a risk to consumers or that fails to meet the standards expected by the public,” says the council in a news release. “As part of its work, the group will review the licensee conduct requirements that are in place, whether those requirements are adequate, and whether they are being effectively enforced.”
Carolyn Rogers, superintendent of real estate and CEO of the Financial Institutions Commission in B.C., will chair the group. The other members are lawyer Howard Kushner, Kushner Law Group; Don Wright, president and CEO, Central 1 Credit Union; Audrey T. Ho, commissioner, British Columbia Securities Commission; lawyer Bruce D. Woolley, Stikeman Elliott; Carol Geurts, associate broker, Century 21 Veitch Realty, Creston, B.C.; Tony Gioventu, executive director, Condominium Home Owners’ Association of B.C; and Ron Usher, general counsel, Society of Notaries Public of British Columbia.
“I believe we have a highly qualified team with the expertise to undertake this important work. These are independent thinkers from across a broad range of public and private organizations, with a clear understanding of good governance and the public interest,” says Rogers.
The group held its first meeting on Feb. 19 and is now finalizing comprehensive terms of reference, which will be made available to the public. They will provide an interim report to the RECBC by April 8 and a full report and recommendations to the council by the end of May.
