TORONTO, July 5, 2024
/CNW/ - Ontario's financial
services regulator, FSRA, has initiated enforcement action
against Po Yuk (Peggy)
Chan ("Chan").
FSRA is proposing to impose administrative penalties in the
total amount of $83,600 on Chan.
FSRA alleges that Chan contravened
the Mortgage Brokerages, Lenders and Administrators
Act, 2006, S.O. 2006, c.29, as amended (the "Act"), and its
regulations as follows:
-
-
- By dealing in mortgages outside her brokerage, contrary to
section 2(3) of the Act.
- By receiving renumeration outside her brokerage, contrary to
section 4(1) of Ontario Regulation 187/08
- By providing false information and deceptive documents,
contrary to section 43(2) of the Act.
Chan requested a hearing before the Financial Services Tribunal
about this proposal.
Learn more:
Access our enforcement database to see how FSRA is
working to protect consumers through its monitoring and enforcement
activities.
For media inquiries:
Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: russ.courtney@fsrao.ca
SOURCE Financial Services Regulatory Authority of Ontario