What two separate organizations are involved in the enforcement of professional conduct in Manitoba?

• A. The Canadian Securities Commission and the Canadian Real Estate Association.
• B. The Manitoba Securities Commission and the Canadian Real Estate Association.
• C. The Manitoba Securities Commission and the Manitoba Real Estate Association.
• D. The Federal Competition Bureau and the Manitoba Real Estate Association.

Answer: (C)

In Manitoba, enforcement of professional conduct in real estate involves two separate organizations: the Manitoba Securities Commission and the Manitoba Real Estate Association. The Manitoba Securities Commission is the government regulator that oversees securities markets and related activities, including any real estate investment offerings that are treated as securities. The Manitoba Real Estate Association acts as the province’s professional self-regulatory body for REALTORS®, setting ethical standards, licensing Real Estate professionals, and disciplining members who violate the code of ethics or professional rules. They operate independently but complement each other—one focusing on securities-related aspects of real estate activity, the other on everyday real estate practice and ethics. The other options don’t fit because there isn’t a Canadian Securities Commission at the national level, CREA is a national trade association and not the Manitoba enforcement body, and the Federal Competition Bureau does not handle professional conduct for real estate.