Notice to Executive Director - Real Estate and Mortgage Brokerage Professionals
Purpose: This bulletin explains what circumstances or events you must report to the executive director, the timing of the report and method.
This bulletin applies to real estate professionals and mortgage broker professionals.
Real Estate Council of Alberta’s (RECA) mandate includes consumer protection and enhancement of industry integrity. To accomplish this RECA reviews the circumstances with the potential to affect the on-going protection of the public and integrity of the industry.
You must immediately give notice to the executive director in writing if any of the following events occurs:
- a professional, occupational or regulatory body, or a trade association or board, disciplines you
- the courts issues a judgment against you in relation to consumer services or the sale of goods
- the courts issue a judgment against any business you own or participate in the past 3 years
- you declare bankruptcy or are the subject of any bankruptcy proceedings
- you own or participated in any business within the past 3 years that is the subject of any bankruptcy or receivership proceedings
- you are charged criminally
- you are convicted of a criminal offence
- you have a conviction under any law of any country, province or state (excluding highway traffic offences resulting in fines and/or demerit points)
You must provide your notification through the myRECA system. If you have any questions or are not sure if you need to report an event, contact RECA at firstname.lastname@example.org.
The executive director will review the circumstances that relate to your event and determine the outcome considering the relevant facts. If the executive director requests additional information, you must give it to the executive in the timeframe requested.
Associate brokers and associates must give to their broker a copy of any written executive director notice.
Real Estate Act Rules - section 40