Which relationships do I have to disclose in a transaction?
An interest can be any benefit, direct or indirect, that a registrant may gain – now or in the future – from a transaction, beyond the fees or commissions they may or may not stand to earn on the transaction.
A few examples of interest may include:
- When a registrant is the buyer or seller
- When a relative of the registrant is the buyer or seller
- When a registrant or their relative is a shareholder of a company that is buying or selling, or has another role in the transaction that is not evident
Related by blood would not extend to aunts, uncles, cousins, nieces, nephews. However, there may still be disclosure requirements if there is any personal interest in the property.
Generally, if a question arises as to a possible need for disclosure, we would suggest that a registrant err on the side of caution and disclose. The "Additional Comments" section in the Confirmation of Co-Operation & Representation (Form 320) can be used for relationship disclosures that may not be appropriate for a Registrant's Disclosure of Interest (Forms 160 and 161.)
