Section 76 Reviews

RECA regulates real estate, mortgage, property management, and real estate appraisal professionals on behalf of the Minister of Service Alberta. In January 2019, Service Alberta engaged KPMG to conduct reviews of RECA’s governance and operations, in accordance with s.76 of the Real Estate Act. RECA takes the recommendations outlined in these reports seriously and will work with the Minister of Service Alberta to address them.

At this time, Bill 20, Real Estate Amendment Act 2020 has achieved Royal Assent but has not yet been proclaimed. See the Alberta Legislative Assembly website for details.

Timeline

June 3, 2020 – Minister of Service Alberta introduced Bill 20, Real Estate Amendment Act 2020 in Alberta Legislature

March 13, 2020 – KPMG Operations Review Report published

October 30, 2019 – Government of Alberta proclaims the Real Estate Amendment Act 2019

October 9, 2019 – Minister of Service Alberta introduced Bill 15, Real Estate Amendment Act in Alberta Legislature

August 9, 2019 – Minister of Service Alberta issues Order to Council not to give effect to new bylaws, rules, policy, directives, directions, or interpretations

June 28, 2019 – KPMG Governance Review Report published

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