A brokerage agency in Gatineau, 'Capital Immobilier', is found to have systematically failed to verify the identity of clients as required by FINTRAC regulations. Which entity is primarily responsible for investigating such a breach and potentially penalizing the agency?

Question: A brokerage agency in Gatineau, 'Capital Immobilier', is found to have systematically failed to verify the identity of clients as required by FINTRAC regulations. Which entity is primarily responsible for investigating such a breach and potentially penalizing the agency?

Answer options:

• The Real Estate Indemnity Fund. ✅ The Syndic of the OACIQ.
• The Discipline Committee of the OACIQ.
• The Autorité des marchés financiers (AMF).

Correct answer: The Syndic of the OACIQ.

Explanation: The Syndic of the OACIQ is responsible for investigating complaints and potential breaches of the Real Estate Brokerage Act, its regulations, and the Code of Ethics. If an investigation reveals a serious fault, the Syndic may refer the case to the Discipline Committee.