TORONTO, Nov. 29, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Iftikhar Ahmad Qadeer (Qadeer).
FSRA alleges that Qadeer dealt in mortgages when not licensed to do so, contrary to section 2(3) of the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, as amended (Act). FSRA also alleges that Qadeer used an email address that might reasonably be expected to lead to the belief that he was licensed as a mortgage agent, contrary to section 11(6) of the Act.
FSRA is proposing to issue a Compliance Order on Qadeer and to impose administrative penalties in the total amount of $7,000 on Qadeer.
Qadeer has 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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