Five: implement a compliance program, know your client, report transactions, keep records and apply ministerial directives. They have applied to mortgage brokers, lenders and administrators since 11 October 2024.
On 11 October 2024 mortgage brokers, lenders and administrators became reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. That brought five obligations.
The brokerage builds the program, but individual brokers sign the records, so every broker needs to understand them.
A dedicated compliance team reviews files centrally, tracks licence deadlines across all three provinces and keeps the audit trail in a form a regulator can read. What does not move off your desk is the knowledge: you sign the disclosure and the FINTRAC record, so you have to understand them. This is general information rather than legal advice, and the regulator's own guidance is the authority.
What each obligation requires and how a brokerage puts it in place.
FINTRAC obligations, in the order you build themLook up any mortgage agent or broker licence in Ontario, BC or Alberta. Direct links to each free regulator search and what to check before you sign.
How CASL applies to mortgage broker marketing: express and implied consent windows, unsubscribe rules, the past client myth and the penalties.
Conflict of interest disclosure in BC is a timing obligation, not a form. What brokers must disclose, when, and how the Mortgage Services Act changes it.
Bring your questions to a discovery call and a broker owner will answer them directly.