TORONTO, June 18, 2024 /CNW/ - Ontario's financial services regulator, FSRA has revoked the mortgage brokerage licence of Valor Financial Corp. ("Valor").
Valor is not suitable to be licensed as the past conduct of Ian Vilafana ("Vilafana"), its sole director and principal broker during the relevant time, affords reasonable grounds for belief that Valor's business will not be carried on in accordance with the law and with integrity and honesty.
Vilafana's mortgage broker licence lapsed and expired on March 31, 2023. Prior to the lapse, Vilafana was the subject of a Notice of Proposal proposing to revoke his mortgage broker licence.
FSRA issued this Order after Valor withdrew their Request for Hearing before the Financial Services Tribunal.
Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities.
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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