The British Columbia Financial Services Authority has suspended the real estate licence of Clarence Ho Yin Yip for 90 days and imposed a CAD 40,000 disciplinary penalty after finding professional misconduct and conduct unbecoming a licensee under the Real Estate Services Act. The case relates to property management services for two Vancouver properties that Yip carried on outside the supervision of the brokerages where he was licensed, including periods when he was not licensed to provide those services. For the first property, which he managed from November 2014 to September 2019, Yip did not advise his brokerages that he was providing property management services and did not use brokerage trust accounts to collect rent and receive remuneration. He followed the same pattern at a second property from July 2017 to January 2022, again managing outside brokerage supervision and failing to deposit rents into brokerage trust accounts. The authority also found that he provided property management services while unlicensed from May 15 to June 7, 2020, and from November 11, 2020, to August 19, 2021, and then continued from August 2021 to January 1, 2022 while licensed only for trading services. Separately, BCFSA found conduct unbecoming when he asked the owner of the second property not to disclose his role to an employee of his brokerage. Under a consent order, Yip must also pay CAD 7,595 in enforcement expenses and complete the Ethics – Professionalism and Principles in Practice course at his own expense.

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