The British Columbia Financial Services Authority (BCFSA) issued a consumer alert asking rental property owners in the Greater Victoria Region who have used, or been approached by, Radoslava Stoycheva and/or Victoria Royal Vacations Inc. (VRV) to share information to support an ongoing investigation into alleged unlicensed real estate activity connected to rental property management. BCFSA accepted an undertaking on 11 August 2025 under the Real Estate Services Act requiring Stoycheva and/or VRV to immediately cease and desist from providing or offering real estate services in British Columbia unless permitted under the Act or covered by an exemption under the Act or the Real Estate Services Regulation, including services provided without a fee where there is an expectation of indirect or future remuneration. The alert notes that a breach of the undertaking or the Act could expose Stoycheva to administrative penalties of up to CAD 100,000 and fines of up to CAD 250,000, and VRV to fines of up to CAD 500,000.
British Columbia Financial Services Authority 2025-08-19
British Columbia Financial Services Authority accepts cease and desist undertaking from Victoria Royal Vacations and seeks information from Greater Victoria rental property owners
The British Columbia Financial Services Authority (BCFSA) issued a consumer alert regarding alleged unlicensed real estate activity by Radoslava Stoycheva and Victoria Royal Vacations Inc. in the Greater Victoria Region. BCFSA accepted an undertaking requiring them to cease real estate services unless permitted under the Real Estate Services Act, with potential penalties for breaches reaching up to CAD 500,000.