TORONTO, March 14, 2025 /CNW/ - Ontario's financial services regulator, FSRA, has imposed administrative penalties in the total amount of $145,000 against Yujun (Janet) Shi (Shi).
Shi was previously licenced as a mortgage agent under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act). Shi contravened the Act as follows:
a. By dealing in mortgages for remuneration while not acting on behalf of their mortgage brokerage, contrary to section 2(3) of the Act;
b. By receiving remuneration from a person other than their mortgage brokerage, contrary to section 4(1) of Ontario Regulation 187/08; and
c. By acting in circumstances where they ought to know they were being used to facilitate dishonesty, fraud, crime, or illegal conduct, contrary to section 3.1 of Ontario Regulation 187/08.
FSRA issued this order as a result of a settlement with Shi.
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: [email protected]
SOURCE Financial Services Regulatory Authority of Ontario
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