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Home News Statement from RECO Board of Directors on Dentons’ Independent Report

October 30, 2025

Statement from RECO Board of Directors on Dentons’ Independent Report

October 30, 2025

RECO’s Board of Directors (the Board) has received Dentons Canada LLP's (Dentons) final report on its independent and comprehensive review of RECO’s handling of the iPro Realty Ltd. (iPro) matter. The report has been shared with the Minister of Public and Business Service Delivery and Procurement.

On August 22, 2025, the Board engaged Dentons to:

  • Conduct an independent and comprehensive audit into the iPro matter, including a review of the agreement undertaken by the previous Registrar, and
  • Advise the Board on legal options under the Trust in Real Estate Services Act, 2002 to ensure greater oversight by RECO and governance going forward.

RECO recognizes the seriousness of this matter and the profound impact it has had on consumers and registrants. RECO is fully committed to enforcing the Trust in Real Estate Services Act, 2002 to protect Ontario consumers, and is taking important actions to ensure this matter is addressed thoroughly and transparently. To learn more about these actions, visit reco.on.ca/ipro/information-and-latest-updates-on-ipro.

To that end, RECO’s Board is reviewing the Dentons report in detail. As directed by the Minister on August 29, 2025, after the Ministry and the Minister have had the opportunity to review the report, the findings of the audit will be communicated to the public.