RIBO Sets New Direction for Broker Supervision

We have released the results of our Enhancing RIBO’s Supervisory Framework Consultation.

Learn more and read RIBO’s consultation response, including respondent feedback.

The consultation focused on enhancing supervision to ensure it is relevant to today’s industry. It is important to prepare licensees to provide advice and respond to the needs of customers, as it leads to better consumer outcomes.

“Ensuring that supervision is working across the industry is one of the ways RIBO can demonstrate that it is fulfilling its consumer protection mandate,” said Mark Abraham, RIBO CEO. “We are grateful to all those who shared their time and perspectives. Their feedback helped inform our thinking and shape our approach.”

Taking Action and Advancing Change

RIBO intends to establish clearer expectations for effective supervision while providing firms with flexibility in how expectations are achieved.

RIBO will develop new broker standards, including a set of expected supervision outcomes for Principal Brokers to achieve.

The new standards will help support:

• Positive consumer outcomes;
• Ongoing suitability for licensure;
• Continuing professional development; and
• Timely access to effective supervision or equivalent oversight, regardless of location.

Listening to the Industry

RIBO recognizes that remote, hybrid, delegated, and technology-supported supervision is effective, provided it is structured, documented, timely, and accountable. By focusing on supervision outcomes, rather than setting prescriptive supervision ratios or caps on the number of licensees a Principal Broker may supervise, RIBO can continue to protect consumers by focusing on setting standards based on risk, instead of imposing the same requirements on every brokerage.

Further to this, RIBO will implement a competency-based supervision period for new-to-industry licensees. It will also introduce supervisor qualifications, appropriate exemptions, and supporting implementation tools. As part of this work, RIBO intends to consult with industry subject matter experts to define competency milestones for new licensees.

RIBO will also develop guidance, tools, and implementation supports to help licensees meet expectations.

RIBO thanks all industry stakeholders and members for participating in the consultation. RIBO will continue to monitor whether there may be a need for refining related requirements in the future.

Next Steps

RIBO is committed to clear and transparent communications with its members. There is still significant work ahead to implement these proposals. Changes are expected to take effect starting in 2028.

“Council supports an approach that sets clear expectations for effective supervision while recognizing that brokerages differ in size, structure and operating model,” said Melissa Bajwa, RIBO Council President.

“RIBO will continue to work closely with its committees and broader membership to inform and strengthen its approach. By focusing on outcomes and supporting licensees with practical guidance and tools, RIBO can strengthen oversight in a way that protects consumers and is workable for the profession.”