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British Columbia plans to create a single real estate regulator to better combat money-laundering in markets like Vancouver, where the government says dirty money has helped drive up housing prices.

The provincial government intends to introduce legislation late next year that would establish a joint financial-services and real estate watchdog by the spring of 2021, the Ministry of Finance said Tuesday.

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The plan would bring real estate regulation — including licensing — under the purview of the B.C. Financial Services Authority, which currently regulates mortgage brokers, private pension plans and financial institutions. Having a single regulator for those areas will streamline investigations and enforcement, according to the government.