If you ever find yourself the subject, or even a witness, in a BC Financial Services Authority (BCFSA) investigation, the best course of action is simple: cooperate fully and promptly.
According to BCFSA, avoiding or delaying communication during an investigation can lead to unnecessary penalties, higher costs, and prolonged stress. Investigations are a critical part of ensuring consumer protection and maintaining public trust in real estate professionals. When licensees respond openly and efficiently, the process moves faster, and outcomes are almost always less severe.
Why cooperation matters
Cooperating with BCFSA isn’t just the right thing to do, it’s also required by law. Under the Real Estate Services Act and Rules, licensees must respond promptly and provide any information reasonably required by the regulator. Failing to do so can result in additional penalties for non-compliance, even before the main issue is resolved. The best way to avoid these unwanted complications? Timely & forthcoming cooperation!
For more information, visit the BCFSA website.