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Financial Services Regulatory Authority of Ontario

IN THE MATTER OF the Mortgage Brokerage, Lenders and Administrators Act, 2006,
S.O. 2006, c. 29, as amended (the “Act”), in particular sections 16 and 21;

AND IN THE MATTER OF Sanjay Pahuja (“Pahuja”).


ORDER REFUSING TO RENEW LICENCE

On April 20, 2021, Pahuja submitted an application to renew a mortgage agent licence (licence #M18000158).

On March 3, 2022, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Senior Manager, Regulatory & Credentialing Oversight (the “Senior Manager”) issued a Notice of Proposal to Refuse to Renew the Licence.

A Request for Hearing (Form 1) dated March 22, 2022 was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 21(3) of the Act respecting the Notice of Proposal.

On August 15, 2022, Pahuja withdrew the Request for Hearing, and, on August 15, 2022, the Tribunal closed its file in respect of this matter. Therefore, pursuant to section 21(7) of the Act, the Senior Manager makes the following order.

ORDER

The renewal of the mortgage agent licence (licence #M18000158) issued to Sanjay Pahuja is hereby refused, for the reasons set out in the Notice of Proposal.

DATED at Calgary Alberta, September 22, 2022

Roy Dias
Senior Manager, Regulatory & Credentialing Oversight

By delegated authority from the Chief Executive Officer

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