Guideline on social media conduct for mortgage services licensees

Purpose

Licensees providing mortgage services have obligations under the Mortgage Services Act (MSA), Mortgage Services Regulation (Regulation), and Mortgage Services Rules (Rules) that relate to their use of social media. Section 37 (2) of the MSA states that a licensee commits conduct unbecoming if they engage in conduct that the Superintendent of Mortgage Services deems contrary to the best interests of the public, undermines public confidence in the mortgage industry, or brings the mortgage industry into disrepute.

This guideline provides guidance to licensees on BCFSA’s expectations for social media usage, and what usage could constitute conduct unbecoming. As a mortgage services licensee, your conduct on social media reflects not only on yourself but also the broader mortgage services industry and public perception of licensees. Licensees have a duty to maintain professional and ethical conduct when using social media, in both a professional and personal context.

Guidelines

Overarching principles of social media conduct

As a starting point, licensees should guide their social media conduct based on the principles below. While these principles are intended to apply in a social media setting, they are relevant to all forms of communication, whether on social media, in other forms of online communication, in print, or in-person.

Do	Do Not
Do act responsibly on social media, by exercising good judgement and assume that anything you post online is public and accessible to all.	Do not engage in unprofessional, aggressive, disrespectful, or intimidating behavior on social media, including: using abusive or offensive language; engaging in defamatory communication; or insults or threats.
Do communicate respectfully and in a way that promotes and protects the image and integrity of the mortgage services profession.	Do not post discriminatory statements or hate speech against any person or group.
Do demonstrate accountability and responsibility in your posts.	Do not post any client confidential information on social media, even in closed or private forums.
Do separate personal and professional social media accounts and set personal account posting visibility to a more private option.	Do not use personal social media accounts for business purposes or in connection with business.

Demonstrate professional responsibility

When using social media in either a personal or professional context, licensees are representatives of the mortgage services industry and are expected to uphold the standards of conduct as set out in the MSA, Regulation, and Rules. As a result, licensees are both accountable and responsible for their behavior on social media.

An effective assessment of whether the content is appropriate is for a licensee to ask themselves whether they would make these comments in person in a public forum. If the licensee would feel uncomfortable making a comment in a public space or to the media, it is likely not an appropriate thing to post on social media either.

Use respectful communication

Licensees should communicate respectfully on social media and in a way that promotes and protects the image and integrity of the industry. This means always maintaining a professional tone and demeanor on social media, especially in professional settings.

It is prudent for licensees to avoid engaging in any arguments on social media, including in comment sections or online threads, as these interactions may escalate into unprofessional, aggressive, disrespectful, or intimidating behaviour.

Any defamatory statements published on social media regarding a client, a member of the public, or another licensee, can reflect poorly on the mortgage industry and may result in legal consequences.

Protect client confidentiality

Licensees have a duty to maintain the confidentiality of information respecting their clients. Licensees must not disclose client information unless authorized by the client or required by law. These confidentiality obligations apply to all forms of communication, including social media. Importantly, these obligations continue even after a client relationship has ended or a transaction has completed.

A client can waive confidentiality when they believe sharing the information is to their benefit. This waiver should be in writing and retained in accordance with the MSA’s record keeping requirements. The waiver should include details about what information can be shared and with whom.

More information on licensee duties, including the duty to maintain confidentiality, can be found on BCFSA’s Mortgage Services Knowledge Base.

Ensure accuracy and compliance in advertising

Licensees who promote mortgage services on social media must comply with sections 55 and 56 of the Rules respecting advertising, as well as any other applicable regulatory requirements. This obligation applies to all social media activity, including reposting, sharing, or amplifying content created by another party. Importantly, a licensee must not publish¹ 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.

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

Be accountable and responsive to public engagement

If a member of the public contacts a licensee about a post, picture, or meme on the licensee’s social media account that also advertises that licensee’s mortgage services, the licensee should respond to the concerns and not ignore it. Licensees should demonstrate accountability and responsibility for all of their social media content, including content not created by licensees but reposted or shared by them, while staying courteous and professional in their response to any member of the public.

Separate personal and professional accounts

If licensees have both personal and professional social media accounts, it is best practice to keep their personal and professional content separate. While licensees may feel entitled to use personal social media accounts for however they see fit – for example engaging in political activity or activism that would not otherwise occur on a professional account – they should still exercise caution. Licensees should remember that they are a representative of the mortgage services industry. This means upholding professional responsibility and communicating with respect.

Licensees should also exercise caution when blending social media in connection with any concurrent businesses, employment, or commercial activities they may have. Outside of specific professional networking sites such as LinkedIn, licensees should consider separating social media accounts for mortgage services with any other accounts used for other business or employment activities. Licensees with concurrent employment other than mortgage services should also ensure that their principal broker is aware of their other employment.

Principal broker considerations

Principal brokers play an important role in overseeing and guiding the activities of licensees. When overseeing brokerage and mortgage broker social media use, principal brokers should consider the following:

Brokerage policies and procedures

Establish clear social media policies and guidelines for the brokerage. These should cover both professional and personal use of social media, emphasize the importance of upholding professional standards, and focus on communicating respectfully.

Educate licensees

Ensure that all licensees in the brokerage are well informed about the expectations that are placed on them as representatives of the mortgage services industry when using social media in both a personal and professional context. Consider providing training on social media use, including topics like professional and ethical standards.

Educate unlicensed staff

Brokerages may have unlicensed staff (i.e., unlicensed assistants) who manage the social media accounts of the brokerage. It is the principal brokers’ responsibility to ensure these staff members also understand expectations around social media use in a professional context. This includes ensuring that any unlicensed assistants are aware of brokerage policies, even if the brokerage does not directly employ those assistants.

Ongoing supervision

Continuously monitor how social media is used within the brokerage. This includes regularly reviewing BCFSA’s social media guidelines to ensure it aligns with the expectations set out for licensees in the brokerage. When issues do arise, principal brokers should address them quickly, appropriately and proactively.

Definitions

Social media refers to websites and digital applications that allow users to create and share content or participate in social networking. It includes commonly recognized platforms such as Facebook, X, YouTube, TikTok, Snapchat, WeChat, WhatsApp, Instagram, LinkedIn, as well as blogs and online forums.

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

Mortgage Services Act

s. 37 [Misconduct by licensee]

MSA Rules

s. 30 [Mortgage brokerage – concurrent businesses]

s. 31 [Principal broker responsibilities]

s. 32 [Mortgage broker responsibilities]

s. 38 [Duties to clients]

s. 39 [Modification of duties]

s. 40 [Designated agent]

s. 55 [Restrictions and requirements]

s. 56 [False or misleading advertising prohibited]