TORONTO, Oct. 10, 2024 /CNW/ - Ontario's Financial Services Regulator, FSRA, has initiated enforcement action against Raouf Ghadrdoust (Ghadrdoust).
FSRA alleges that Ghadrdoust is no longer suitable for licensing as 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 alleges that Ghadrdoust contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006 and its regulations (Act) by receiving remuneration from a person other than his brokerage contrary to subsection 4(1) of Ontario Regulation 187/08 and for facilitating dishonesty, contrary to section 3.1 of Ontario Regulation 187/08.
FSRA is proposing to refuse to renew the licence and impose administrative penalties in the total amount of $15,000 against Ghadrdoust.
Ghadrdoust 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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