TORONTO, Nov. 21, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Frank (Frankie) Attard (Attard).
FSRA alleges that Attard provided false or deceptive information and documents to FSRA and to others in connection with a mortgage transaction, contrary to sections 43 and 45 of the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, as amended (Act), and caused his brokerage to fail to comply with the requirements under Act, contrary to section 3 of Ontario Regulation 187/08.
FSRA alleges that Attard is not suitable to be licensed under the Act because his past conduct affords reasonable grounds for belief that he will not deal or trade in mortgages in accordance with the law and with integrity and honesty.
FSRA is proposing to refuse to renew Attard's mortgage agent licence and to impose administrative penalties in the total amount of $25,000 against Attard.
Attard requested a hearing before the Financial Services Tribunal about this proposal.
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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