Last reviewed: 16 September 2026

Home › The Library › Canada › MBRCC's national Code of Conduct

The Mortgage Broker Regulators' Council of Canada's national Code of Conduct, explained

Our overview of Canadian mortgage broker regulation makes the point that there's no federal NMLS equivalent — each province runs its own licensing regime independently. That's still true. It doesn't mean the provinces never coordinate with each other, and one real, checkable coordination effort is worth understanding on its own terms.

What the MBRCC actually is — and isn't

The Mortgage Broker Regulators' Council of Canada (MBRCC) is a voluntary, inter-jurisdictional forum whose members are the provincial regulators themselves — currently nine of them: British Columbia's BCFSA, Alberta's RECA, Saskatchewan's FCAA, Manitoba's Securities Commission, Ontario's FSRA, Quebec's AMF, New Brunswick's FCNB, Nova Scotia's regulator, and Newfoundland and Labrador's Superintendent of Mortgage Brokerages and Brokers — every province this Library covers with a dedicated licensing regime, per our own province-by-province pages. Prince Edward Island isn't a member, for the same reason it doesn't appear anywhere else in this section: see our explainer on PEI's regulatory gap — there's no PEI regulator to join. The MBRCC itself has no licensing authority and no disciplinary authority of its own; it doesn't replace or override a single province's own Act. It exists so the regulators who do hold that authority can compare notes and pursue shared solutions to common problems.

A national Code of Conduct, endorsed in February 2021

In February 2021, the MBRCC endorsed a plain-language Code of Conduct for mortgage broker professionals, built around a stated set of ten principles describing the professional behavior a Canadian consumer should be able to expect from a mortgage broker regardless of province. New Brunswick's FCNB separately publicized the same Code to its own licensees in a dated Consumer Affairs Bulletin (2021-02) the same year — independent corroboration, from a specific provincial regulator's own channel, that the Code is a real, dated document, not just a press release.

Adoption varies by regulator — the Code alone isn't what makes a broker accountable

Ontario's FSRA states that it has built the MBRCC's Code into its own supervisory framework, holding FSRA-licensed mortgage professionals accountable to it directly. That's a specific, named adoption by one specific regulator — it isn't the same as every member regulator enforcing the Code identically, or as the Code itself carrying independent legal force apart from a given province's own Mortgage Brokerages Act, Real Estate Act, or equivalent. The actual enforceable rules a broker in a given province is held to remain that province's own licensing statute and regulations — the specific pages elsewhere in this Library's Canada section. The Code is best read as a shared statement of expected conduct the regulators themselves helped write, not a thirteenth licensing regime layered on top of the ten provincial ones.

What this means practically, if you're working with a Canadian broker

The Code doesn't give you anything to check the way a license number does — there's no public registry of "Code compliance" to look up, the way our license-checking explainer covers for an actual license. What it does tell you is that the provincial regulators themselves have already agreed, in writing, on a shared baseline of professional conduct — useful context for what a complaint (see our complaint-filing explainer) is actually being measured against, even though the complaint itself still runs through that province's own regulator and process, not through the MBRCC directly.