Ontario creates new rules for real estate brokerages in light of iPro Realty scandal (opens original article in a new tab)

Ontario introduces new financial oversight rules for real estate brokerages, requiring annual filings to protect consumer deposits, following a scandal involving iPro Realty's misuse of trust funds.

• Ontario real estate brokerages must submit annual financial filings starting October 1
• RECO introduces proactive oversight model to protect consumer deposits
• New rules follow iPro Realty scandal involving $10.5 million trust fund misappropriation