TORONTO, Sept. 15, 2022 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Mohammad Islam, also known as Islam Mohammad.
FSRA alleges that Mohammad Islam contravened section 2(3) of the Act by attempting to negotiate or arrange a mortgage and dealing in mortgages without being licensed under the Act.
FSRA is proposing to issue a compliance order and impose an administrative penalty in the amount of $10,000 on Mohammad Islam.
Mohammad Islam may request a hearing before the Financial Services Tribunal about this proposal.
FSRA is working to protect consumers through its monitoring and enforcement activities.
FSRA continues to work on behalf of stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca
FOR MEDIA INQUIRIES:
Russ Courtney
Senior Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]
SOURCE Financial Services Regulatory Authority of Ontario
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