1. Incoming Principal Broker to complete and return the completed Undertaking Form confirming they understand their responsibilities as the Principal Broker; that he/she has assumed the responsibilities of Principal Broker; that he/she is a director and/or officer of the corporate entity (per Ontario Regulation 991, Section 7.2(2)(e)); (be sure they include information of any other employment that will remain with other brokerages)
2. Advise on the status of the outgoing Principal Broker (i.e. will this individual be staying on with the firm or leaving, or should the individual’s status be changed to that of “employee” or is the individual to be appointed as a “Deputy Principal Broker” of the firm) ;
3. Confirmation letter from the outgoing Principal Broker that they have resigned as the Principal Broker of the firm; (be sure they include information of any other employment that will remain with other brokerages)
4. You must also provide a copy of the Business Registration documentation showing new updated list of Officer and/or Directors.
1. Letter from Principal Broker appointing the individual as deputy principal broker and confirmation that the individual is a director and/or officer of the corporation.
2. Incoming Deputy Principal Broker to complete and return the completed Undertaking Form and confirming they understand their responsibilities as the Deputy Principal Broker; that he/she has assumed the responsibilities of Deputy Principal Broker; that he/she is a director and/or officer of the corporate entity (per Ontario Regulation 991, Section 7.2(2)(e)); (be sure they include information of any other employment that will remain with other brokerages)
3. Advise on status of outgoing Deputy Principal Broker (if applicable). (i.e. will this individual be staying on with the firm or leaving, or should the individual’s status be changed to that of “employee” or is the individual to be appointed as a “Deputy Principal Broker” of the firm or if they will also remain as a Deputy Principal Broker) ;
4. Confirmation letter from the outgoing Deputy Principal that they have resigned as the Deputy Principal Broker of the firm (if applicable); (be sure they include information of any other employment that will remain with other brokerages).
5. You must also provide a copy of the Business Registration documentation showing new updated list of Officer and/or Directors.
1. Letter from Principal Broker appointing the individual as supervising broker.
2. Letter from the individual confirming they understand their responsibilities as the Supervising Broker; that he/she has assumed the responsibilities of Supervising Broker
3. Signed Undertaking Form from incoming Supervising Broker confirming they understand their responsibilities (be sure they include information of any other employment that will remain with other brokerages).
A request to change Principal Broker or change or add a Deputy Principal Broker should include a dated and signed Principal Broker Undertaking or Deputy Principal Broker Undertaking.
We also require a resignation letter from the individual who will no longer be the Principal Broker or Deputy Principal Broker that indicates whether they have left the organization or if they are staying on as an employee.