TORONTO, Aug. 1, 2024
/CNW/ - Ontario's financial
services regulator, FSRA, has imposed a compliance order and
two administrative penalties in the total amount of $5,000 against Millicent Prince ("Prince").
Prince was previously licensed as a mortgage agent under
the Mortgage Brokerages, Lenders and Administrators
Act, 2006, S.O. 2006, c.29, as amended (the "Act"). Prince
contravened the Act and its regulations as follows:
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a. By dealing in
mortgages without a mortgage broker or a mortgage agent licence,
contrary to section 2(3) of the Act; and
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b. Using the title of
"mortgage agent" while not licensed as a mortgage agent, contrary
to section 11(5) of the Act.
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FSRA issued these orders as a result of a settlement with
Prince.
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