An Appeal Decision by the Financial Services Tribunal of BC has upheld a decision by a Discipline Committee of the Real Estate Council of BC to cancel the real estate licence of James Sidney Parsons, an associate broker with One Percent Realty Ltd., Vancouver, who worked primarily in the Victoria area.

Following a hearing, a Discipline Committee of the Real Estate Council had cancelled Mr. Parsons' licence effective April 27, 2015, as a result of his failure to act in the best interests of his client during a time when his client, due to her mental status, was in a highly vulnerable state. Mr. Parsons subsequently appealed the decision of the Discipline Committee to the Financial Services Tribunal. The filing of the appeal by Mr. Parsons suspended the cancellation of his licence pending the outcome of the appeal.

As a result of the Financial Services Tribunal's decision to uphold the cancellation, effective November 17, 2015, Mr. Parsons is prohibited from providing real estate services to or on behalf of any member of the public.

The Real Estate Council of BC is a regulatory agency established by the provincial government. Its mandate is to protect the public by enforcing the licensing and licensee conduct requirements of the Real Estate Services Act. The Council is responsible for licensing individuals and brokerages engaged in real estate sales, rental and strata property management. The Council also enforces entry qualifications, investigates complaints against licensees and imposes disciplinary sanctions under the Act.