TORONTO, Sept. 9, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has refused to renew the mortgage agent licence of Karen Graham (Graham).
Graham is not suitable to be licensed as a mortgage agent because Graham provided false information in the application for the licence, and Graham's past conduct affords reasonable grounds for belief she will not deal or trade in mortgages in accordance with the law and with integrity and honesty. This constitutes grounds to refuse the licence under subsections (1) and (3) of section 10 of Ontario Regulation 409/07 under the Mortgage Brokerages, Lenders and Administrators Act, 2006.
FSRA issued this Order as a result of a decision of the Financial Services Tribunal ("Tribunal") dated July 23, 2024 where the Tribunal directed the Chief Executive Officer to carry out the Notice of Proposal to refuse to renew Graham's licence.
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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