The British Columbia Financial Services Authority issued an urgent order suspending the licence of Tao (Terry) Guo after finding he had abandoned his duties as managing broker at Kelowna-based rental property management brokerage Menethil Properties Ltd., leaving the firm unauthorized to operate because it does not have a licensed managing broker. BCFSA said the order does not immediately affect existing tenancy agreements and advised tenants to continue paying rent in line with their agreements. BCFSA discovered during an ongoing investigation into Menethil’s accounting and payments practices that Guo had moved overseas and was delegating managing broker responsibilities to Menethil director Yu (David) Song, who was not licensed to act as a managing broker, contrary to requirements under the Real Estate Services Act. Menethil provides rental property management services for around 100 properties, and Song previously held a managing broker licence that was cancelled in September 2023 following findings of professional misconduct, including failures to file financial statements, maintain financial records, and respond to BCFSA information requests, alongside a CAD 25,000 penalty.
British Columbia Financial Services Authority 2025-02-13
British Columbia Financial Services Authority suspends managing broker Tao Guo’s licence leaving Menethil Properties unauthorized to operate
The British Columbia Financial Services Authority (BCFSA) suspended Tao (Terry) Guo's licence, managing broker at Menethil Properties Ltd., after he abandoned his duties, leaving the firm unauthorized to operate. The investigation revealed Guo moved overseas, delegating responsibilities to unlicensed director Yu (David) Song, violating the Real Estate Services Act. Song's previous managing broker licence was cancelled in September 2023 due to professional misconduct and a CAD 25,000 penalty.