Public notice of administrative monetary penalties

2013-03-12 ]

RE/MAX Active Realty Inc., a real estate broker in Mississauga, Ontario, was imposed an administrative monetary penalty of $6,770 on March 12, 2013, for committing four violations.

Nature of Violation

Failure of a person or entity to develop and apply written compliance policies and procedures that are kept up to date and, in the case of an entity, are approved by a senior officer, which is contrary to subsection 9.6(1) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and paragraph 71(1)(b)of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations.

Failure of a person or entity that has employees, agents or other persons authorized to act on their behalf to develop and maintain a written ongoing compliance training program for those employees, agents or persons, which is contrary to subsection 9.6(1) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and paragraph 71(1)(d) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations.

Failure of a person or entity to institute and document the prescribed review, which is contrary to subsection 9.6(1) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and paragraph 71(1)(e)of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations .

Failure of a real estate broker or sales representative to keep prescribed records, which is contrary to section 6 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and paragraph 39(1)(b) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations.

Date Modified: