The Future of Regulatory Guidance Webinar Series

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Managing Broker Webinar — Brokerage Filings

Held on January 26, 2023, the session provided an overview of some important information regarding the annual Accountant’s Report. It covered some brief reminders about the new licensing platform called IRIS and then a demonstration of how to submit your filings using IRIS, followed by some frequently asked questions about how to submit your annual Accountant’s Report filing. The presentation introduced the upcoming brokerage data request, covering important information including the when, what and how followed by a run-through of some frequently asked questions about the data request.  

Managing Broker Webinar — IRIS Refresher

Held on November 24, 2022, this webinar took another look at BCFSA’s new licensing portal, the Integrated Regulatory Information System (“IRIS”), which is scheduled to launch in January 2023 following an extensive testing and optimization period. Attendees were given a hands-on demonstration of IRIS features to refresh and update their knowledge.

Home Buyer Rescission Period: Changes to Practice

This webinar provided an outline of the impacts of the home buyer rescission period on sellers and buyers, along with a discussion of the two new mandatory consumer disclosures. This webinar was aimed at helping licensees understand this important change and see what resources will be made available to help them comply with the new regulation, which will be implemented starting January 1, 2023.

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Real Estate Rules and Regulatory Instruments

This is the eleventh webinar in our series designed to provide information and tools to support you and the real estate professionals at your brokerage. This webinar provided an overview of BCFSA’s regulatory instruments, including the rule-making process, a summary of consultation feedback received on proposed amendments to the Real Estate Services Rules regarding real estate teams, trust account reporting requirements and a review of the report focused on enhancing consumer protection in B.C.’s real estate market.

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Strengthening Regulations Around Teams and an Introduction to the IRIS Platform

This is the tenth webinar in our series designed to provide information and tools to support you and the real estate professionals at your brokerage. This webinar focused on strengthening regulations arounds teams and provided an introduction to the new licensing platform called the Integrated Regulatory Information System (“IRIS”).

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What to Expect During an Audit

This is the ninth webinar in our series designed to provide information and tools to support you and the real estate professionals at your brokerage. This webinar focused on what to expect during a brokerage audit, and common issues in relation to brokerage trust accounts. The session concluded with an overview of the data collection request, including helpful advice on completing the workbook and answers to any questions you may have about this request.

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Real Estate Consultation Updates

This is the eighth webinar in our series designed to provide information and tools to support you and the real estate professionals at your brokerage. This webinar focused on work underway at BCFSA to enhance the regulation of real estate teams, and how managing brokers and licensees can provide their feedback through a consultation. The session concluded with an update on BCFSA’s consultation regarding a cooling-off period.

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It’s Radon Season

This is the seventh webinar in our series designed to provide information and tools to support you and the real estate professionals at your brokerage. This webinar focused on all things radon, including when radon becomes a material latent defect that must be disclosed.

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BCFSA Integration and Impacts on Real Estate Professionals

This is the sixth webinar in our series designed to provide information and tools to support you and the real estate professionals at your brokerage. This webinar focused on what industries BCFSA regulates, upcoming educational opportunities, investigations and discipline.

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Hot Market Risks and the Duty to Report

This is the fifth webinar in our series focused on the real estate professional’s duty to act with care and skill and to provide services that meet high standards of professionalism and ethics – and how to address the added risks that a competitive market can introduce.

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Your AML Obligations and Tools

This is the fourth webinar in our series designed to provide information and tools to support you and the real estate professionals at your brokerage. This webinar focused on new resources and updated existing regulatory guidance to ensure real estate professionals have the information they need to comply with all obligations and continue to protect the public from the risks of dirty money entering real estate markets.

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Get to Know the Knowledge Base

This is the third webinar in our series focused on an exploration of BCFSA’s Knowledge Base, the home of our new regulatory resources. Ahead of the launch of our updated regulatory guidance we have enhanced the Knowledge Base, making searching faster and easier and helping to ensure you can quickly access the resources most relevant to your needs.

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Professional Judgement and Regulatory Guidance

This is the second webinar in our series designed to provide information and tools to support you and the real estate professionals at your brokerage as BCFSA introduces its new approach to regulatory guidance. This webinar focused on professional judgement — what is it, and how should real estate professionals use professional judgement to ensure they are meeting their regulatory requirements?

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The Future of Regulatory Guidance — An Introduction

This first in a series of monthly webinars for managing and associate brokers focused on the updates to BCFSA’s regulatory guidance. The hour-long session introduced the new format for BCFSA’s regulatory resources, and provided some background and progress of the project to update our guidance materials.

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Frequently Asked Questions

Here are answers to some of the key questions we received following last month’s introductory webinar about BCFSA’s Regulatory Guidance. If you have a question you’d like us to answer in the Brokers’ Brief, send it to us at [email protected].

  • No. The PSM and BSM will be replaced on the BCFSA website by the Guidelines and Information. However, many of the useful elements from the PSM, such as checklists, case studies and examples, will still be available on BCFSA’s Knowledge Base as additional resources linked to the relevant Guidelines.

  • No. Our new regulatory guidance materials are simply a different way of providing information to professionals. No regulatory requirements for real estate professionals are changing as a result of the introduction of the Guidelines and Information.

  • Yes! The new materials will be reviewed on a regular schedule, and updates or revisions will be communicated to all real estate professionals. Each Guideline is dated, and we will add the dates of any revisions, so that you can have confidence that you are using the most up-to-date guidance available.