Since May 1, 2020, mortgage brokerage has been a discipline covered by the Act respecting the distribution of financial products and services and subject to the regulation of the Autorité des Marchés Financiers (Financial Markets Authority) to ensure the protection of the public. Not only must every mortgage broker have professional liability insurance, they must respect the rules of ethics applicable to mortgage brokers.
Its role is to advise you, whether you are a buyer or owner, about the best mortgage products available on the market. He will do it better than anyone, because this task is not simple. It involves careful and methodical research, so that the winning conditions are met, and you can make the most of them.
In the case of contingency funds, a syndicate of co-owners must have guidelines for the investment of the sums accumulated in the fund. It must clearly define the return and risk objectives for a given period while taking into account constraints such as liquidity needs, the legal context and exceptional circumstances. This task is delicate, because a syndicate of co-owners acts as administrator of the property of others. That is why it must submit to restrictive and precautionary rules on placement. The syndicate is thus subject to the rules of presumed safe investments provided for in articles 1339 to 1344 of the Civil Code of Quebec.