Mortgage Broker Regulators' Council of Canada

COVID-19 Easing Measures by Province

Financial Services Regulation Division, Service NL
Topic Summary of Action Link
Licensing and Registration No licences being cancelled. Registrations remain in effect until withdrawn by the registered person, or until suspended or cancelled.

Service Nova Scotia
Topic Summary of Action Link
Licensing and Registration Business fees are being deferred until June 30th and it is expected that this will include Brokers and Lenders.

Financial and Consumer Commission of New Brunswick (FCNB)
Topic Summary of Action Link
Licensing and Registration All licences, registrations, certificates and permits issued by the province are extended. Any licence or registration valid as of 16 March 2020 will remain valid until 30 June 2020 unless suspended by a court or by another authority under an Act of the Province. Licensing and registration functions by FCNB will continue; however, there may be some delays.
Scheduled Compliance Reviews All on-site compliance reviews are currently postponed.
Consultations Pursuant to section 3 of the Mortgage Brokers Act, the Director hereby extends the time limit for filing any Annual Returns due to be filed prior to 31 March 2020 by 60 days, to 31 May 2020.

Financial Services Authority of Ontario (FSRA)
Topic Summary of Action Link
Licensing and Registration 1) Deadline for broker and agent licence renewals extended from March 31 to May 31 provided applications are initiated by March 31: and 2) Deadline for brokerages and administrators to file their annual information report extended from March 31 to June 30.

Real Estate Council of Alberta (RECA)
Topic Summary of Action Link
Education Exams postponed (test centres closed until April 30). RECA education has allowed industry members to move into other courses due to the postponement of exams.
Communications RECA communications has published substantial practice tips and clarifications for industry and consumers on how to deal with various aspects of transactions during the COVID-19 restrictions.
Licensing Licensing will grant a license without a criminal record check provided the applicant undertakes to provide it once the fingerprinting services are available.
Other Most other services are being provided as usual with our workforce working remotely.