RECO Set for Governance Transition to New Board of Directors

RECO to transition to board governance following Administrator and Acting CEO, Jean Lépine's recommendation to the Minister and significant progress in the organization's transformation, regulatory oversight and modernization efforts. 

TORONTO, Sept. 2, 2026 /CNW/ -- The Real Estate Council of Ontario (RECO) will transition governance authority to its new Board of Directors on September 9, 2026, marking a significant milestone in the regulator's ongoing transformation. 

Jean Lépine was appointed Administrator on November 28, 2025, to assume control of RECO, safeguard the public interest and support the organization in fulfilling its consumer protection mandate. Following significant progress towards these objectives, Lépine wrote to the Minister recommending that governance authority transition to the new Board and that his appointment as Administrator conclude.  

Today, Ontario's Minister of Public and Business Service Delivery and Procurement has accepted the Administrator's recommendation and issued an Order concluding his appointment, effective September 8, 2026. The new Board will assume governance authority the following day on September 9, 2026.  

"Over the past several months, with support from industry leaders and their associations, we have made tremendous progress towards building a modern, transparent and proactive regulator that firmly puts consumer protection first," said Jean Lépine, Administrator and Acting CEO. "That progress reflects stronger collaboration with sector professionals and the commitment of RECO's leadership and staff, who have driven significant change across the organization. With strengthened regulatory oversight, renewed governance and a clear path forward, RECO is ready for the new Board to assume stewardship of its continued transformation." 

During the Administrator's term, RECO advanced significant reforms to strengthen consumer protection and regulatory effectiveness, including a more proactive, risk-based and data-informed approach to industry oversight; enhanced trust account measures; renewed organizational leadership and capacity; and a new independent, skills-based governance framework. RECO also established its Roadmap to Enhanced Consumer Protection to inform the next phase of regulatory modernization.  

"I want to recognize the lasting impact of Mr. Lépine's appointment, which has not only positioned RECO for long-term stability as it prepares to return to board-led governance, but has also renewed consumer confidence in this province's real estate services regulator," said the Honourable Stephen Crawford, Minister of Public and Business Service Delivery and Procurement.  

Lépine will deliver his final written report to the Minister on September 8. The report will outline the progress achieved under his mandate and areas of continued focus. The final report will be published on RECO's website.  

"The transition does not mark the completion of RECO's transformation, which is a multi-year undertaking. With the foundation, governance and leadership now in place, the work will continue under the oversight of the new Board," added Lépine. 

Effective September 9, 2026, RECO's new Board of Directors will assume governance authority and stewardship of RECO's continued transformation and consumer protection mandate. Among its first priorities will be appointing a CEO to lead RECO through its next phase. 

About the Real Estate Council of Ontario (RECO) 

RECO is a not-for-profit corporation established in 1997 to regulate real estate agents and brokerages to protect consumers in Ontario's real estate services sector. RECO administers the Trust in Real Estate Services Act, 2002. 

Contact: 
Tess Lin, Director of Communications & Stakeholder Relations 
Real Estate Council of Ontario 
[email protected] 

SOURCE Real Estate Council of Ontario