Guideline on advertising

Purpose

Licensees providing mortgage services have obligations under the Mortgage Services Act (MSA), Mortgage Services Regulation (Regulation), and Mortgage Services Rules (Rules) related to advertising. This guideline explains licensees’ obligations when advertising mortgage services¹ and provides guidance on:

• clearly identifying the person or business providing the mortgage services
• ensuring advertising is truthful, accurate and not misleading

Further information on advertising requirements can be found on BCFSA’s Mortgage Services Knowledge Base.

^{1 Mortgage services advertising is defined as any form of identification, promotion, solicitation or representation, including a sign or other notice, relating to}

1. ^mortgages,
2. ^{a mortgage transaction, or}
3. ^{the provision of mortgage services.}

Guidelines

Be clear about who is providing mortgage services

All advertisements must include the full mortgage brokerage name as registered with BCFSA. The brokerage name must be clearly and prominently displayed and in an easily readable form. When the name of a broker is included in an advertisement, the advertisement must only include the name of that individual, as registered with BCFSA. If advertising includes an office address for the licensee, that address must be the address of the related mortgage brokerage office.

Personal mortgage corporations

If a principal broker or mortgage broker operates through a personal mortgage corporation (PMC), any advertising must use only the PMC’s name, as registered with BCFSA. The individual broker must not be identified by their personal name in place of, or in addition to, the PMC’s name. In addition, the term “personal mortgage corporation” must be fully spelled out on any advertising; the PMC abbreviation is not allowed.

Audio advertising

The obligation for the brokerage name to be clearly indicated remains when advertising on the radio or in other forms of audio advertising (e.g., podcast ads). Licensees must ensure that their name is advertised the same way it appears on their licence or a short form that is approved by BCFSA. For compliance, BCFSA will consider the prominence of the brokerage’s name in relation to the rest of the advertisement and the relative ease with which a consumer can identify the brokerage.

Social media

If a licensee uses social media for business purposes, they must include the name of their related brokerage on their profile screen. Each post is not required to contain the name of the brokerage. All social media platforms that a licensee uses to market their mortgage services must follow the same guidelines as all other print advertising.

Teams (Effective April 1, 2027)

A mortgage services team cannot advertise itself as a team until its registration request is approved by BCFSA.

All mortgage services advertising for a team and/or its individual members must clearly indicate the team’s name, as registered with BCFSA, and the brokerage name must also be prominently displayed and must be easily readable in relation to the rest of the advertisement. All advertising that includes the names of unlicensed team members must identify them as being unlicensed.

Foreign language advertisements

Translations of brokerage names into other languages is not acceptable. Licensee’s names and the name of their brokerage and personal mortgage corporation/team (if applicable) must be reflected as registered by BCFSA.

Ensure advertising is truthful, accurate, and not misleading

A licensee must not publish² mortgage services advertising that the licensee knows, or ought to know, contains a false statement or misrepresentation concerning mortgages, a mortgage transaction, or the provision of mortgage services.

^{2 The term “publish”, in relation to mortgage services advertising, includes}

1. ^{causing or permitting mortgage services advertising to be published, and displaying mortgage services advertising, or}
2. ^{causing or permitting mortgage services advertising to be displayed.}

Keeping information current

Any statements made in advertisements must be current, verifiable, and accurate. You must ensure that when mortgage services information has expired, that it is immediately removed from websites.

Comparative claim/business volume/honour or award

If a comparative claim, business volume, honour, or award is noted in any advertising, the basis of the claim/volume/honour/award, (e.g., the source, date, and qualifying information) needs to be included to avoid misleading the audience.

Promises or offers

If a promise or offer is made in any advertising, any conditions or limitations must be clearly indicated. Additionally, full written details of the terms, conditions or limitations of the promise or offer must be available.

Principal broker considerations

Principal brokers must ensure that their related licensees are aware of the obligations when it comes to advertising. All advertising that a principal broker’s related licensees create is representative of the brokerage and the principal broker is responsible for ensuring it is compliant.

The MSA requires that each brokerage establish policies and procedures that provide for the adequate supervision and training of its related licensees. It is recommended that the brokerage include policies and procedures on advertising that its related licensees must follow.

Once a licensee leaves a brokerage for any reason (e.g., transfers to another brokerage or retires), the principal broker is responsible for ensuring that any relevant advertising is updated promptly (e.g., website information is updated, etc.).

Applicable section of Mortgage Services Act, its Regulations, or the Mortgage Services Rules

MSA

s. 63 (2) (e) (iv) [Rules of the Authority]

MSA Rules

s. 55 [Restrictions and requirements]

s. 56 [False or misleading advertising prohibited]