RECO Audit Survival Guide: What Ontario Brokers Need to Know

Public reporting and industry commentary have highlighted that a material share of Ontario brokerages have sparse inspection history — that is not the same as a clean bill of health. When inspections ramp, late scrambling is expensive.

What inspectors care about

• Supervision — who reviewed trades, ads, and correspondence?
• Records — are files complete and retrievable?
• Trust accounting — where applicable, reconciliation discipline (use your accountant's playbook).
• Advertising — TRESA-aligned claims and disclosure mechanics.

Common findings (patterns)

• Missing brokerage identification on marketing.
• Incomplete OREA packages or unsigned amendments in hurry-up deals.
• Training gaps — new reps onboarded without documented compliance modules.

Pair with federal AML

RECO professionalism and FINTRAC obligations intersect on client ID and file completeness. Read FINTRAC checklist as the federal layer on top of this provincial frame.

AI and documentation

Use AI to draft checklists and summaries for broker review — not to store KYC artifacts in unmanaged chats.

Rubo

Rubo supports Canadian broker workflows in WhatsApp / Telegram with human approvals — demo.