An Alberta real estate associate discovers that their brokerage's broker has been using trust account funds for personal expenses. What should the associate do?
Correct Answer
D) The associate should report the broker's misuse to RECA's registrar in writing
Rule 53(h) of the RECA Rules requires an associate to notify the broker upon learning of a violation, but here the broker is the wrongdoer. Section 37(1) of the Real Estate Act lets any person make a written complaint to the registrar about a licensee's conduct, and misuse of trust money breaches the trust rules, so the associate should report it to the registrar in writing.
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