Requirements is the compliance hub's answer to a question nothing else in the product could answer before now: what will a deal like this owe, before there's a deal to check it against. Describe a file's shape - province, deal type, lender, whether the borrower is a corporation or trust - and get back every obligation such a file would carry, plus what your brokerage owes regardless of whether it has a single client on the books.
When You'd Use This
Check it before taking on a file in an unfamiliar province or deal type, when training someone new, or any time you want to know what's actually required rather than discovering it as a blocker partway through a live deal.
Describing the Deal
Four inputs shape the sheet: province, deal type (purchase, refinance, renewal with the same lender, renewal with a different lender), whether the lender is institutional or private, and a switch for a corporate or trust borrower - the one input that turns on beneficial-ownership requirements. Nothing here loads a real deal. The sheet runs the same evaluator a live file's gate uses, against a hypothetical file with every disclosure trigger fired, so what you see is what such a file would owe, not a second opinion that could disagree with the real thing.
What Your Firm Owes Regardless
A section at the top lists five standing obligations that exist whether or not you have a client: appointing a compliance officer, written policies, a risk assessment, staff training, and a periodic effectiveness review. Each shows met, due, or not yet in place, with its own icon rather than colour alone. These get set up once, in your program - see Appoint Your Compliance Officers and Upload Your Program Documents.
What a File of This Shape Owes
Requirements are grouped by checkpoint - intake and credit, lender submission, commitment and signing, funding, file close - in that order. Each row names its authority (FINTRAC, provincial legislation, or your own brokerage policy), whether it's blocking or advisory only, and its scope: once per individual party, once per entity party, or once for the whole deal.
Who Handles It, and Where It's Set
Every row says who's on the hook: BrokerPlus (a form it renders and can send for you), you the broker (a fact you have to go record), or the borrower (something only they can provide) - most rows on a typical file are already handled for you. Each row also links to wherever it's configured: your program, the disclosure rulebook, or the documents library, so changing a rule means going straight there. A row with no link is fixed by regulation.
What To Watch Out For
- This sheet describes obligations; it doesn't check a real file's progress. A live deal's own compliance tab is where you'd see what's done versus still outstanding.
- Advisory rows are recorded but never block a transmit - they're marked as recorded, not blocking, so they don't read as a legal requirement they aren't.
What to Do Next
- Navigate the Compliance Hub for the other three sections.
- Adjust the rules for a province to change a disclosure's waiting period.
- Add Your Own Compliance Requirement to add a firm-wide rule this sheet would then show.
- Review the documents BrokerPlus prepares to see what a purpose-built form actually renders.
- Choose your operating provinces to control which provinces this sheet covers.