FSRA issues notice of proposal to impose administrative penalties against Po Yuk (Peggy) Chan

TORONTO, July 5, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Po Yuk (Peggy) Chan ("Chan").

FSRA is proposing to impose administrative penalties in the total amount of $83,600 on Chan.

FSRA alleges that Chan contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, as amended (the "Act"), and its regulations as follows:

1. 1. 1. By dealing in mortgages outside her brokerage, contrary to section 2(3) of the Act.
      2. By receiving renumeration outside her brokerage, contrary to section 4(1) of Ontario Regulation 187/08
      3. By providing false information and deceptive documents, contrary to section 43(2) of the Act.

Chan 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