TORONTO, Sept. 20, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Avraj Singh Dulay (Dulay).
FSRA alleges that Dulay fabricated documents in connection with several property purchase transactions, contrary to section 43(2) of the Act.
FSRA also alleges that Dulay caused his brokerage to fail to maintain the records required under the Act, contrary to section 3 of Ontario Regulation 187/08 and section 48 of Ontario Regulation 188/08.
FSRA is proposing to impose administrative penalties on Dulay in the total amount of $44,000.
Dulay requested a hearing before the Financial Services Tribunal about this proposal.
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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