Real Estate

BCFSA fines 2nd agent in White Rock special levy case

16/09/2023


A second B.C. real estate agent has been ordered to pay more than $30,000 for failing to notify his clients about an impending special levy before they purchased a condo in White Rock.


Jitendra Angelo Dehideniya has six months to pay the $30,000 discipline penalty plus $1,500 in enforcement expenses under a consent order he agreed to with the B.C. Financial Services Authority.


He must also complete the Real Estate Trading Services Remedial Education Course at UBC’s Sauder School of Business within three months, according to the order.


The discipline stems from an incident that occurred in 2018. At the time, Dehideniya had only recently joined Sutton Group – West Coast Realty and was a junior member of the group that marketed itself as “The BC Elite Real Estate Group,” according to the consent order.


A retired couple from Langley approached the team’s lead

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Real Estate

BCFSA rules on real estate agent's $50K loan to client

27/05/2023


A real estate agent who lent a client $50,000 so she could afford to make a deposit on a property in Richmond, B.C., committed professional misconduct by doing so, according to a provincial regulator.


The B.C. Financial Services Authority, which investigates real-estate-related complaints from members of the public, has concluded that Wei “Vicky” Wang’s loan constituted a conflict of interest, and that Wang had committed misconduct by failing to avoid the conflict and by failing to advise her client of it.


The BCFSA’s chief hearing officer Andrew Pendray issued his decision on the matter earlier this month. It was published online Wednesday. 


In it, Pendray wrote that the evidence before him supported the conclusion that the $50,000 Wang provided was a loan, and thus a conflict, despite Wang’s arguments to the contrary.


THE PURCHASE


Pendray’s decision came after hearings on the BCFSA’s fifth

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