The BC Financial Services Authority issued a $1,000 administrative penalty notice after a brokerage failed to provide its 2025 Brokerage Data Call through the prescribed IRIS portal by March 31, 2025, despite repeated reminders. The regulator noted that a missed 2024 filing had previously led to a warning but no penalty. The notice permits reconsideration within 30 days of receipt, so it doesn't establish whether the penalty was later confirmed.
Source reviewed · Court holding
Held. The BC Financial Services Authority issued a $1,000 administrative penalty notice after a brokerage failed to provide its 2025 Brokerage Data Call through the prescribed IRIS portal by March 31, 2025, despite repeated reminders.
The BC Financial Services Authority issued a $1,000 administrative penalty notice after a brokerage failed to provide its 2025 Brokerage Data Call through the prescribed IRIS portal by March 31, 2025, despite repeated reminders. The regulator noted that a missed 2024 filing had previously led to a warning but no penalty. The notice permits reconsideration within 30 days of receipt, so it doesn't establish whether the penalty was later confirmed.
Section 93.1 required reporting on residential sales with firm contract dates from February 16 to March 15, 2025, along with specified homebuyer rescissions from 2024. The prescribed electronic filing method mattered as much as the deadline. The recipient could seek reconsideration by explaining due diligence and other relevant circumstances. The document is a notice and doesn't establish any subsequent reconsideration outcome.
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