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Last reviewed: 16 September 2026

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How Manitoba licenses mortgage brokers: the Securities Commission's two-tier framework

Like Saskatchewan, Manitoba is one of the provinces our overview of Canadian mortgage broker regulation describes as regulated through "a government financial-services office" rather than one of the four largest provinces' dedicated bodies. Manitoba's specific structure is worth its own explainer.

Governed by the Mortgage Brokers Act, administered by the Securities Commission

Manitoba mortgage brokering is governed by The Mortgage Brokers Act (C.C.S.M. c. M210) and its Mortgage Brokers Regulation, administered by the Manitoba Securities Commission (MSC) — a division of the Manitoba Financial Services Agency (MFSA), the province's Special Operating Agency covering securities, financial institutions, and (through its real estate division) mortgage broker registration together. Registration itself is processed through that real estate division, meaning Manitoba pairs mortgage-broker registration with real estate administratively, somewhat like Alberta pairs mortgage licensing with its real estate council — though under a different legal structure, since Manitoba's Act sits with the Securities Commission rather than a real-estate-specific regulator.

Two categories: mortgage broker and restricted mortgage broker

The Act registers two categories: a full mortgage broker and a restricted mortgage broker, available to someone whose activities are limited to those the restricted category covers. Both require being at least 18, completing the prescribed application and a criminal record check, and paying a registration fee. The two categories diverge on a specific, checkable point: the Mortgage Brokers Regulation requires a mortgage broker applicant to file a surety bond — in the amount the Commission specifies, or $100,000 if it hasn't specified one, issued by a bonding company authorized to do business in Manitoba — while a restricted mortgage broker applicant is not required to file a surety bond at all.

A course requirement, prescribed by the registrar

An applicant (or, for a corporate applicant, its authorized officials) must complete the Broker's Course as prescribed by the registrar, and — separately — the course of instruction prescribed by the Commission, before registration. A restricted mortgage broker applicant's authorized officials specifically must also provide a detailed resume showing senior-level management experience, on top of the course requirement.

What this page is, and isn't: a comparative explainer of how Manitoba's licensing structure works — not a review of any specific Manitoba broker or brokerage. We do not name, rank, vet, or imply any verdict about a specific Canadian broker, originator, or brokerage on this or any Library page, and our published standard and Register remain United States-only.

What an active Manitoba registration does and doesn't tell you

An active registration confirms someone is currently registered in one of the two categories above, as of the date checked — including, for a full mortgage broker, that the $100,000 (or Commission-specified) surety bond is actually on file. It doesn't tell you whether that broker has disclosed a specific lender relationship to you in writing; see our companion explainer on conflict-of-interest disclosure requirements in Canada for that distinct point.

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