FSRA issues notice of proposal against Sabine Quattrociocchi and Diamond Capital Investments Inc.

TORONTO, Oct. 10, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Sabine Quattrociocchi (Quattrociocchi) and Diamond Capital Investments Inc. (Diamond Capital).

FSRA alleges that Quattrociocchi contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006, (Act) by dealing in mortgages without a licence or while not acting on behalf of a mortgage brokerage contrary to section 2(3) of the Act, and by providing false or misleading information to FSRA contrary to section 45(1) and (2) of the Act.

FSRA alleges that Diamond Capital contravened the Act by carrying on the business of administering mortgages without a licence contrary to sections 5(1) and (2) of the Act.

FSRA is proposing to impose administrative penalties in the total amount of $40,000 against Quattrociocchi and in the total amount of $25,000 against Diamond Capital.

Quattrociocchi and Diamond Capital have requested a hearing before the Financial Services Tribunal about this proposal. Quattrociocchi also requested a hearing about a Notice of Proposal dated September 17, 2021.

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