British Columbia Financial Services Authority CEO outlines a trust-based regulatory approach and engagement to access MLS transaction-level data

The British Columbia Financial Services Authority published remarks by CEO Tolga Yalkin to Real Estate Regulators of Canada setting out trust as a practical precondition for effective supervision, industry engagement and credible regulatory action. The speech frames BCFSA’s approach as a structured model built on four elements: trust earned through competence, consistency and respect, clear public-interest purpose, well-defined boundaries, and a balanced relationship that supports collaboration without diluting regulatory responsibilities. As a worked example, BCFSA is engaging with data-holding entities in the real estate sector to explore access to transaction-level data from the Multiple Listing Service (MLS). The objective is to move beyond a largely complaints-driven compliance model by strengthening visibility into market activity and enabling more proactive, risk-based supervision and policy advice, while keeping scope disciplined, protecting confidentiality, and reducing ad hoc information requests through more predictable data-sharing arrangements.