Statement from RECO Board of Directors on Dentons’ Interim Report

October 1, 2025

RECO’s Board of Directors has received an interim report from Dentons Canada LLP (Dentons), which is conducting an independent, comprehensive review of the iPro matter. The interim report has been shared with the Minister of Public and Business Service Delivery and Procurement.

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 (TRESA) to ensure greater oversight and governance going forward.

The Board is reviewing the interim findings in detail and will continue to support Dentons as it prepares to deliver its final report. As directed by the Minister, upon receipt of the final report on October 30, 2025, and after the Ministry and the Minister have had the opportunity to review the final report, the findings of the audit will be communicated with the public.

The Board acknowledges the seriousness of this matter and the profound impact it has had on consumers and registrants. RECO’s top priority remains protecting Ontario consumers and registrants.

Learn more about steps RECO is taking to protect consumers and registrants at reco.on.ca/ipro/information-and-latest-updates-on-ipro