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Ontario’s real estate regulator’s CEO to resign amid scandal over $8M trust fund misuse.
Ontario’s real estate regulator, RECO, will see CEO Brenda Buchanan resign by December 31, 2025, amid scrutiny over its handling of the iPro Realty scandal.
The firm is under investigation for allegedly misusing $8 million from client trust accounts.
The province appointed Jean Lépine as administrator in December to restore trust, following an audit that revealed delayed responses and poor communication within RECO.
Buchanan will remain in a transitional role.
The government says its intervention is necessary to rebuild confidence among consumers and professionals.
Lépine plans an accountability-focused agenda for 2026.
El director ejecutivo del regulador de bienes raíces de Ontario dimitirá en medio de un escándalo por el mal uso de fondos fiduciarios de $8 millones.