Brokers: What To Do With Associate “Yes” Answers
| September 03, 2019
Once you renew your brokerage, your associates can begin to renew. Some of your associates may answer “yes” to a suitability question. Doing so prevents them from finalizing their renewal until RECA reviews the situation.
RECA’s experience has shown that many associates answer “yes” to a suitability question even though they do not need to.
The suitability questions apply to situations that have not already been reported to the executive director. For example, if an associate received discipline from their local board, and they reported the discipline to RECA at that time or during their last renewal, they DO NOT have to answer “yes” to the question about discipline from a professional body. This applies for all of the suitability questions.
If an application with a “yes” answer comes across your desk, ask the associate about it before proceeding with the renewal. If it turns out they don’t need to say “yes,” cancel their renewal application and have them start a new one. If they do have something to report, in order to avoid delays with their renewal, they should report the event to the executive director through the ‘Notify the Executive Director’ function in their myRECA account before starting another renewal application.
If you have any questions, please contact brokerinfo@reca.ca.
