All agents of BestRate Financial are members of the Canadian Institute of Mortgage Brokers and Lenders (CIMBL), and adhere to their Code of Ethics as outlined below.
Ethical Standards
Protection
Disclosure
Confidentiality
Competence
Member Competition
Cooperation with CIMBL
Advertising
No Discrimination
Laws and Regulations
Rule 1 – Ethical Standards
Members shall conduct their activities with honesty, integrity and professionalism, ensuring that they and their personnel are knowledgeable in the areas of the mortgage industry in which they participate. Furthermore, Members shall act in compliance with sound business practices including “Best Practices”, as established from time to time by CIMBL.
Rule 2 – Protection
Members shall use their best efforts to protect parties to a mortgage transaction and the public against fraud, misrepresentation, unethical practices or other violations of CIMBL’s Code of Ethics. Members shall report such infractions to CIMBL.
Rule 3 – Disclosure
Members shall disclose to all appropriate parties to a mortgage transaction:
- any real or perceived conflicts of interest;
- all material information; and
- any personal interest, direct or indirect
Rule 4 – Confidentiality
4.1 Members shall hold in strict confidence any information arising from the professional relationship concerning the business and affairs of his or her Client, and shall not divulge that information unless the Member is expressly authorized by the Client or required by law to do so or, as required under Rule 7.1.
4.2 A Member, acting for more than one party to a transaction shall not act to the detriment of any one of the parties by withholding material information.
Rule 5 – Competence
5.1 Members shall endeavor to be informed regarding the law, proposed legislation, and other essential facts relevant to public policies related to the services they provide.
5.2 When a Member is unable to render service in accordance with the standards required in this Code of Ethics, the Member shall decline to act.
5.3 A Member shall provide timely service and respond on a timely basis to inquiries from participants in a mortgage transaction.
Rule 6 – Member Competition
Members shall not unfairly criticize a competitor Member nor refer to another Member in a disparaging manner.
Rule 7 – Cooperation with CIMBL
7.1 Members shall cooperate with any investigation (an “Investigation”) by CIMBL of the Member's conduct or the conduct of another Member. Cooperation may include providing access to and copies of all documents and answering all questions relevant to the Investigation, unless prevented from doing so by law.
7.2 Members shall testify, when requested to do so by an authorized representative of CIMBL, at any hearing involving another Member under the Code of Ethics of CIMBL.
7.3 Members shall not obstruct an Investigation, including withholding or concealing documents or information or attempting to influence the information or evidence that a potential witness might provide at any Investigation of a Member.
Rule 8 – Advertising
All Members shall apply, set and maintain standards of honesty, truth, accuracy, fairness and propriety in advertising and shall comply with the Canadian Code of Advertising Standards, as established from time to time by Advertising Standards Canada.
Rule 9 – No Discrimination
Members shall not, when acting in a professional capacity, discriminate or participate in discrimination against any person and shall be aware of the rights and obligations of the applicable Human Rights codes in the jurisdictions where such Member conducts business.
Rule 10 – Laws and Regulations
Members shall conduct their activities in full compliance with all federal, provincial and municipal laws and regulations.
