TORONTO, May 1, 2024 /CNW/ - Ontario's Financial Services Regulator, FSRA has refused the mortgage agent licence of Dewan Ahmed ("Ahmed").

Ahmed is not suitable to be licensed as a mortgage agent because Ahmed made a false statement and has provided false information with respect to the application for the license. Ahmed's past conduct has afforded reasonable grounds that he will not deal or trade in mortgages in accordance with the law and with integrity and honesty. This constitutes grounds to issue this Order to refuse the mortgage agent licence to Ahmed under subsections (1) and (3) of section 10 of Ontario Regulation 409/07 under the Mortgage Brokerages, Administrator and Lenders Act, 2006.

FSRA issued this Order after Ahmed withdrew his Request for Hearing before the Financial Services Tribunal.

Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities.

FOR MEDIA INQUIRIES:

Ashley Legassic
Acting Sr. Manager, Media Relations
Financial Services Regulatory Authority
C: 647-719-8426
Email: ashley.legassic@fsrao.ca 

SOURCE Financial Services Regulatory Authority of Ontario