The British Columbia Financial Services Authority (BCFSA) has issued urgent orders under the Real Estate Services Act to suspend the real estate brokerage licences of Jovi Realty and Lighthouse Realty Ltd, effective immediately, following serious allegations of misconduct related to trust account management. The brokerages are no longer authorized to provide real estate services, and BCFSA has also imposed significant restrictions on the licences of the three managing brokers overseeing the firms. The action follows BCFSA’s 6 November 2025 decision to freeze the brokerages’ trust accounts as part of an ongoing investigation into the activities of Balpreet Singh Bal. All brokerage trust accounts remain frozen, with no withdrawals or disbursements permitted. Consumers whose funds are impacted may be eligible for support through the Special Compensation Fund, and clients may need to sign new service agreements if their agent or property manager transfers their licence to an active brokerage to continue providing services; BCFSA stated there have been no allegations or evidence of wrongdoing by individual agents or property managers. BCFSA will seek a Supreme Court order to appoint a receiver to reconcile the accounts and oversee fund distribution in accordance with statutory requirements.

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