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Submortgage Broker Information

Submortgage Broker Information

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Ka Chai (Hui, Elvis) Hui

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Conditions or Restrictions

Ka Chai (Hui, Elvis) Hui has conditions or restrictions in place.

Telephone Number
(778) 297‑7450
Email Address
[email protected]

Active Registrations: 1

Active Registrations Registration Expiry Date Conditions or Restrictions
Guaranti Mortgages Corporation 18 October 2024
  1. Ka Chai Hui aka Elvis Hui (“Mr. Hui”)’s registration will be restricted to Guaranti Mortgages Corp. (“GMC”) or another mortgage broker (the “Mortgage Broker”) acceptable to the registrar of mortgage brokers (the “Registrar”) of the BC Financial Services Authority (“BCFSA”) for a period of not less than two (2) years following the renewal of his registration (the “Conditional Registration Period”).
  2. During the Conditional Registration Period, Mr. Hui must remain under the direct supervision of a designated individual of the Mortgage Broker who is acceptable to the Registrar, and who has confirmed in writing to the Registrar that they have read these conditions, are aware of their duties under these conditions, and agree to accept these duties (the “Designated Individual”).
  3. These conditions are in addition to Mr. Hui’s and the Mortgage Broker’s obligations under the Mortgage Brokers Act (“MBA”) and the Regulations made under the MBA (together, the “Legislation”).
  4. The Registrar and Mr. Hui have agreed upon these conditions.
  5. Mr. Hui must keep the Designated Individual informed of the mortgage broker services that he is providing.
  6. Mr. Hui must obtain the Designated Individual’s review and approval in respect of all mortgage broker services provided.
  7. Mr. Hui must not handle any trust funds in relation to matters in which he is providing mortgage broker services.
  8. Mr. Hui must not contact the borrowers or other witnesses involved in transactions tied to a current enforcement matter that relates to allegations set out in the Notice of Hearing dated July 28, 2021 (the “Investigation”) except as follows:a. Mr. Hui’s legal counsel or Designated Individual may establish contact with the witnesses on Mr. Hui’s behalf; andb. Mr. Hui may have contact with the following witnesses (if applicable): his spouse, family members, or his assistant who was involved in the transactions related to the Investigation, only if the assistant still works as Mr. Hui’s assistant.
  9. The Designated Individual must review all transactions in which Mr. Hui provides mortgage broker services, and all documents relevant to the transactions must be contained in the appropriate deal files and retained by the Mortgage Broker.
  10. The Designated Individual must immediately report to the Registrar anything of an adverse nature with respect to Mr. Hui’s mortgage broker services, including:a. failure of Mr. Hui to observe these conditions, the requirements of the Legislation or all other applicable legislation; andb. complaints received by the Mortgage Broker, including the nature of the complaint, the parties involved, and how the complaint was resolved.
  11. If for any reason the Designated Individual is unable to perform any of the duties imposed herein, they must immediately advise the Registrar.
  12. If there is a change in the Designated Individual of the Mortgage Broker, the former Designated Individual and Mr. Hui must immediately notify the Registrar in writing. If the Registrar determines that the successor Designated Individual is acceptable as a Designated Individual for the purposes of these conditions, they will be provided with a copy of these conditions and will be asked to confirm in writing to the Registrar that they have read these conditions, are aware of their duties under these conditions, and agree to accept these duties. If that Designated Individual fails to provide such confirmation within 14 days of becoming a Designated Individual at the Mortgage Broker, they will be deemed to be unable or unwilling to perform the duties set out in these conditions.
  13. Staff of the Registrar may perform a review of Mr. Hui’s files at a time of their choosing, during the Conditional Registration Period, and the reasonable costs of such review will be paid by Mr. Hui.
  14. The Registrar has the discretion to vary these conditions or impose additional conditions on Mr. Hui’s registration upon receiving notice of updates or complaints or upon receiving further enforcement concerns in relation to the ongoing investigation of Mr. Hui and summons issued October 3, 2022.
  15. Failure by Mr. Hui to adhere to one or more of the conditions may constitute breach under section 8(1)(f) of the MBA.
  16. The Registrar retains the discretion to investigate this and any other matter relating to Mr. Hui’s registration pursuant to section 5 the MBA. The Registrar retains the authority to proceed under section 8 of the MBA regarding this and any other matter in relation to Mr. Hui.
No conditions or restrictions