TORONTO, June 17,
2024 /CNW/ - Ontario's financial services
regulator, FSRA, has initiated enforcement action
against Mai Anh (Cindy)
Tran (Tran).
FSRA alleges that Tran contravened section 4(1) of
Ontario Regulation 187/08 by receiving funds outside of the
brokerage, and contravened the Mortgage Brokerages, Lenders
and Administrators Act, 2006 (Act), by giving false or
deceptive information and documents when dealing in mortgages in
Ontario contrary to subsection
43(2) of the Act, and by giving false or deceptive information to
FSRA contrary to subsection 45(1) of the Act.
FSRA is proposing to impose administrative penalties in the
total amount of $14,000 on Tran.
Tran 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: russ.courtney@fsrao.ca
SOURCE Financial Services Regulatory Authority of Ontario