Compliance + FINTRAC

Compliance that is complete before anyone asks for it

Compliance gaps are almost never a decision to cut a corner. They are a file someone meant to come back to on a busy Thursday in March. The fix is not more diligence — it is a system where the record is captured as the work happens and the gaps are visible while there is still time to close them.

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Built for Canadian obligations: FINTRAC, FSRA and provincial mortgage brokerage legislation.

Compliance · needs attention

C/
Chen / Wu · M. Bell
ID verification expires in 9 days
9 days
Of
Osei family · A. Okonkwo
Source of funds outstanding
Overdue
N·
Nakamura · S. Lin
Record complete · verified 14 Aug
Clear
C·
Clarke · M. Bell
Record complete · verified 2 Aug
Clear

The short answer

What does FINTRAC require a mortgage brokerage to keep, and how does software help?

Mortgage brokerages in Canada are reporting entities with obligations around client identification, record keeping, retention and reporting. Software helps by capturing those records as a by-product of normal work rather than as a separate task — the identity check happens on the deal, the record is retained automatically for the statutory period, and outstanding items are visible on a dashboard instead of being discovered during an examination.

Client identity verification captured against the deal, with the method recorded.
Records retained for the statutory period without anyone maintaining a folder.
Outstanding items surfaced by file and by agent while they can still be fixed.
Immutable audit log — every change attributed to a person and a timestamp.
Evidence pack exported for an examination rather than reconstructed.
Licensing and continuing-education status monitored ahead of renewal deadlines.

On the deal

Where records live

Not in a separate compliance system.

Automatic

Retention

Statutory periods handled by the platform.

Immutable

Audit log

Who changed what, and when.

One click

Evidence pack

Exported, not rebuilt from email.

Client identification

Verification captured where the deal already is

Identity verification fails most often not because it was skipped but because it was done and never recorded in a way anyone could find later. Capturing it on the deal, with the method and date, means the evidence and the file never drift apart.

Method recorded — government photo ID, credit file, or dual process.
Expiry tracked, so re-verification is prompted before it lapses.
Third-party and agent-of-the-broker arrangements captured properly.
Beneficial ownership and source of funds recorded where required.
Politically exposed person screening attached to the client record.

Brokerage oversight

See the exposure across every agent, today

A principal broker is accountable for files they did not personally touch. The only workable version of that is a live view of where the brokerage's obligations are unmet — by file, by agent, ranked by how close the deadline is.

Brokerage-wide dashboard of outstanding items, ordered by urgency.
Per-agent compliance posture, so coaching goes where it is needed.
Escalation when an item ages past your internal standard.
Deal cannot progress past configured stages while an item is missing.
Historical gaps surfaced during onboarding, not discovered at examination.

Brokerage · compliance

Files complete

96.2%

612 active deals

Items overdue

Across 6 files

Expiring ≤30d

Re-verification due

CE at risk

Agents below required hours

Examination

An audit becomes a report you run

The cost of an examination is rarely the findings — it is the fortnight spent reconstructing files from email, shared drives and memory. When the record was complete as work happened, producing it is an export.

Complete evidence pack per file: identity, records, correspondence, decisions.
Immutable activity log showing every change and who made it.
Retention satisfied without a manual archive process.
Data scoped to your brokerage — never pooled with another tenant's.
Export in a format a regulator or your own counsel can work with.

See it on your own pipeline

A 30-minute walkthrough using your own deal flow — not a canned demo file.

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Questions

Frequently asked

Does this replace our compliance officer?

No, and you should be sceptical of anything claiming it does. It removes the clerical part — chasing, filing, retention, remembering expiry dates — so the person responsible spends their attention on judgement calls rather than on reconstructing what happened.

How long are records kept?

For the statutory retention period applicable to the record type, handled by the platform rather than by a folder convention someone has to maintain. Records remain retrievable and exportable throughout.

Can one brokerage see another's compliance records?

No. Every workspace is isolated at the query layer, and that includes compliance records and do-not-call lists. This is enforced in the data access path rather than by hiding things in the interface.

Do you monitor agent licensing and continuing education?

Yes. Licence status and CE progress are tracked against renewal deadlines so a lapse is caught in advance rather than discovered when an agent cannot legally transact.

What happens if an agent tries to progress a deal with a missing record?

You configure which stages are gated. A deal can be blocked from advancing past a chosen point while a required item is outstanding, which is far more effective than a report produced after the fact.