FSRA imposes administrative penalties against Jeshuren Anandarajah and issues compliance orders against Jeshuren Anandarajah, Noah's Ark Community Centre and NACC Legal Services

TORONTO, April 27, 2023 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) has imposed three administrative penalties in the amount of $30,000 against Jeshuren Anandarajah (Anandarajah) and issued compliance orders against Anandarajah, Noah's Ark Community Centre (NACC) and NACC Legal Services (NACCLS).

Anandarajah contravened the following sections of the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act) and its regulations as follows:

• by providing false or deceptive information when dealing in mortgages contrary to subsection 43(2) of the Act;
• by acting or omitting to act in circumstances where Anandarajah ought to have known that such actions or omissions to act would facilitate dishonesty, fraud, crime, or illegal conduct, contrary to subsection 3.1 of Ontario Regulation 187/08; and
• by receiving remuneration for dealing or trading in mortgages from a person other than the brokerage on whose behalf Anandarajah was authorized to deal or trade in mortgages, contrary to subsection 4(1) of Ontario Regulation 187/08.

NACC contravened the Act as follows:

• by dealing in mortgages without being licensed under the Act, contrary to subsection 2(3) of the Act.

NACCLS contravened the Act as follows:

• by dealing in mortgages without being licensed under the Act, contrary to subsection 2(3) of the Act.

FSRA issued these Orders pursuant to settlements with Anandarajah, NACC and NACCLS.

Learn more:

FSRA is working to protect consumers through its monitoring and enforcement activities.

FSRA continues to work on behalf of stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca.

FOR MEDIA INQUIRIES:

Russ Courtney 
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected] 

SOURCE Financial Services Regulatory Authority of Ontario