The British Columbia Financial Services Authority (BCFSA) issued an urgent order against Kelowna rental property brokerage Menethil Properties Ltd., requiring it to stop providing real estate services, freezing its trust accounts, and suspending its brokerage licence after finding it was operating without authorization. The order also directs the brokerage’s director, David Song, to cease providing real estate services. BCFSA linked the action to its February 10, 2025 suspension of the managing broker licence of Tao (Terry) Guo, following an investigation that found Guo had abandoned his managing broker duties. Because real estate brokerages must have a managing broker, Menethil has not been authorized to operate since that suspension. Menethil provides rental property management services for about 100 properties in Kelowna, alongside trading services; BCFSA encouraged landlord clients and tenants to review its consumer alert, noting there are no immediate impacts to tenancy agreements and tenants should continue paying rent under their agreements.
British Columbia Financial Services Authority 2025-04-25
British Columbia Financial Services Authority orders Menethil Properties to cease real estate services and freezes its trust accounts
The British Columbia Financial Services Authority (BCFSA) issued an urgent order against Menethil Properties Ltd., halting its real estate services, freezing trust accounts, and suspending its brokerage licence due to unauthorized operations. The order also requires director David Song to cease real estate services, following the February suspension of managing broker Tao (Terry) Guo. BCFSA assured tenancy agreements remain unaffected and advised clients to review its consumer alert.