TORONTO, Dec. 16, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Richard Bowers ("Bowers").
FSRA alleges that Bowers is not suitable to be licensed as a mortgage agent because he provided false information with respect the application for the licence and his past and ongoing conduct affords reasonable grounds to believe he will not deal in or trade mortgages in compliance with the law, or with integrity and honesty. These grounds for refusing to issue the licence under subsections (1), (2), and (3) of section 10 of Ontario Regulation 409/07, pursuant to the Mortgage Brokerages, Lenders and Administrators Act, 2006.
FSRA is proposing to refuse the mortgage agent licence to Bowers.
Bowers 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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