Aggregated News From Investment Management Regulators

Real Estate Rules in Manitoba to change effective Jan. 1.


Please complete the required fields.

The Manitoba Securities Commission (MSC) is notifying Manitoba homebuyers and sellers of important new real estate legislation, which will officially come into effect on Saturday, Jan. 1, 2022.

The Real Estate Services Act (RESA) will introduce a new regulatory framework for the province’s real estate industry, providing consumers with enhanced protections while modernizing and streamlining business for industry professionals.

MSC’s Real Estate Division, in consultation with industry groups, drafted this new legislation to better protect the Manitoba public while strengthening the regulation of real estate brokers, salespeople and property managers in our province.

“We are very pleased with the measures and approaches outlined in the new Act,” says Keith Schinkel, Registrar, MSC, “For many people, a home is the largest single purchase they will ever make in their lives. Therefore, protection of the public is paramount—ensuring that buyers and sellers have their best interests protected first and foremost was our central focus in developing this legislation.”

RESA’s enhanced public protection elements include Commission powers to;

•       assess monetary penalties up to $500,000 against registrants for misconduct;

•       take action against persons carrying on unregistered activity, via;

•       cease and desist orders

•       payment of investigation and/or hearing costs,

•       monetary penalties

•       increase the amount of surety bonding a registrant must maintain.

The new legislation also introduces the requirement that brokerages enter into written service agreements with homebuyers and sellers before providing real estate services to them. The service agreement sets out what services the brokerage will provide and ensures that all parties are fully aware of what they should expect when working together.

RESA will also allow for electronic agreements, including offers to purchase and digital signatures for the first time.

“There’s been a major shift in service expectations and the role technology plays in so many industries, and real estate is no different,” says Schinkel. “It’s been a long-time coming, and we think the industry and consumers will really see a positive difference.”

Comprehensive information on the Real Estate Services Act can be found at and the Manitoba Law website. Questions on the new Act and regulations from homebuyers and sellers, or industry professionals can be directed to: [email protected]

The Manitoba Securities Commission is a division of the Manitoba Financial Services Agency, a Special Operating Agency of the Government of Manitoba that protects investors and promotes fair and efficient capital markets throughout the province.  

This news item was originally published by the Manitoba Securities Commission (MSC CA). For more information, please see the Source Link.

Regulator Information

Abbreviation: MSC
Jurisdiction: Canada

Recent Articles

Sanctions Notice – Myanmar — GFSC

Please be advised that the following individuals and entities: Win Kyaw Kyaw Aung Zaw Min Tun Asia Sun Trading Company Limited Cargo Link Company Limited have been designated under the Myanmar (San

Sanctions Notice – ISIL (DA’ESH) and AL-QAIDA — GFSC

Please be advised that Islamic State in Iraq and the Levant in South-East Asia has been designated under the ISIL (Da’esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulati

SFDR data collection exercise for investment fund managers (IFMs) on regulatory requirements in relation to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial...

1. Context This Communiqué follows up on the CSSF communiqué published on 27 July 2022 announcing the intention of the CSSF to launch a data collection exercise...


We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

CVM accepts proposal for a term of commitment with the CEO of Clear Sale SA

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content...

Get the latest from Regulatory.News in your inbox!