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Changes to Mortgage Broker Continuing Education
In January 2023, BC Financial Services Authority (“BCFSA”) will launch a new required continuing education course for mortgage brokers: Legal Update. This course, developed and delivered by BCFSA, will replace the Regulatory Update course provided by the Mortgage Brokers Institute of British Columbia (“MBIBC”) as a required course for registration renewal or reinstatement, effective April 1, 2023.
The current requirements for mortgage brokers to complete Regulatory Update, Anti-Money Laundering for Mortgage Brokers, and one elective module will remain in effect for individuals with a renewal date up to and including March 31, 2023.
