Patricia, a Principal Broker in Ontario, is conducting a review of her brokerage's compliance practices. She discovers several instances where disclosure documents were not provided to clients within the timelines prescribed by the MBLAA. What is the most appropriate action for Patricia to take?

Question: Patricia, a Principal Broker in Ontario, is conducting a review of her brokerage's compliance practices. She discovers several instances where disclosure documents were not provided to clients within the timelines prescribed by the MBLAA. What is the most appropriate action for Patricia to take?

Answer options: ✅ Immediately implement corrective measures, including additional training for agents and updated procedures for disclosure timing, and report findings to FSRA if material.

• Dismiss the agents involved and replace them with new, more diligent staff members.
• Inform affected clients that the disclosure documents are now available upon request.
• Assume the clients likely reviewed the information online anyway and take no further action.

Correct answer: Immediately implement corrective measures, including additional training for agents and updated procedures for disclosure timing, and report findings to FSRA if material.

Explanation: The MBLAA and O. Reg 187/08 require timely disclosure. Patricia, as Principal Broker, must ensure compliance, conduct internal reviews, implement corrective actions, and report material breaches to FSRA.