What exactly did RECO do to Save Max brokerages?

RECO froze the bank accounts of four affiliated brokerages after finding about C$2.7 million was unlawfully disbursed from trust accounts. This secures funds while the regulator investigates and plans next steps. Expect guidance on documentation, claim handling, and timing for any releases tied to active transactions.

Are buyer and tenant deposits safe right now?

Deposits linked to impacted brokerages may face delays while RECO secures accounts and verifies balances. Keep all receipts, agreements, and bank confirmations. Ask your lawyer to confirm where funds are held and the release conditions. Follow RECO updates closely for instructions on claims or payouts as the investigation proceeds.

What risks should investors watch in Ontario real estate services?

Watch for delayed deposit releases, opaque updates, sudden office closures, or brand changes. Low sales volumes and infrequent audits can increase failure risk. Verify brokerage status with RECO, request written trust details, and consider using a lawyer’s trust account for large deposits to reduce exposure during heightened oversight.

How does Raman Dua factor into the situation?

Leadership communications and remediation plans will face scrutiny as events develop. Investors should focus on transparent disclosures, documented steps to secure client funds, and cooperation with the regulator. Avoid assumptions about individual culpability and rely on official RECO updates and legal notices for verified accountability and next actions.

Law and Government

February 06: RECO Freezes Four Save Max Brokerages Over Trust Funds

ByHuzaifa Zahoor February 6, 2026February 6, 2026

Save Max is under intense scrutiny after Ontario’s real estate regulator (RECO) froze the bank accounts of four affiliated brokerages on February 06. Investigators found about C$2.7 million was unlawfully disbursed from trust accounts, raising fresh concerns about compliance in Ontario real estate. We explain what this action means for clients, agents, and investors, how RECO trust accounts are supposed to work, and what risk signals to watch next. The focus now is on consumer protection, cash flow stress at brokerages, and practical safeguards you can take today.