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