OTTAWA, ONTARIO--(Marketwired - April 15, 2013) - The Competition Tribunal issued a decision today in the Toronto Real Estate Board (TREB) matter.
On May 27, 2011, the Competition Bureau filed an application with the Tribunal seeking to prohibit what its investigation found to be anti-competitive practices by TREB.
The Bureau's application before the Tribunal requested that TREB eliminate rules that denied real estate agents the ability to introduce innovative Internet-based real estate brokerage services, such as Virtual Office Websites (VOWs).
"While I am disappointed that the Tribunal has dismissed the Bureau's application, we will be reviewing the Tribunal's decision to determine our next steps," said John Pecman, Interim Commissioner of Competition.
The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.