Definition
The Code of Ethics of Real Estate Brokers and Agents of Quebec (CQLR c. C-73.2, r. 4) establishes the professional obligations of all brokers holding an OACIQ licence, including real estate finance brokers (mortgage brokers).
**Core principles**: 1. **Competence**: maintain the skills necessary to practise the profession (continuing education) 2. **Loyalty**: act in the client's best interest, not the lender's or the agency's 3. **Confidentiality**: protect the client's personal information (Law 25 in Quebec) 4. **Integrity**: do not mislead, do not conceal relevant information 5. **Transparency**: disclose compensation, conflicts of interest, relationships with lenders
**Specific financing obligations**: - Provide the 'Broker Declaration' form to the client - Explain the differences between the financing options presented - Obtain informed consent before transmitting client data to lenders - Retain client files for a minimum of 5 years
**Disciplinary body**: The OACIQ Disciplinary Committee handles complaints. Sanctions range from warnings to licence revocation, including fines from $1,500 to $50,000.