IN THE MATTER OF the Mortgage Brokerage, Lenders and Administrators Act, 2006,
S.O. 2006, c. 29, as amended (the “Act”), in particular sections 19 and 21;

AND IN THE MATTER OF First Swiss Mortgage Corp. (“First Swiss”).

ORDER REVOKING LICENCES

First Swiss is licensed as a mortgage brokerage (licence #10550) and a mortgage administrator (licence #11956) under the Act.

On March 22, 2023, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Litigation & Enforcement (the “Director”) issued a Notice of Proposal to revoke the mortgage brokerage licence and the mortgage administrator licence issued to First Swiss. On March 22, 2023, the Director also issued an Interim Order suspending the mortgage brokerage licence and the mortgage administrator licence issued to First Swiss.

The Notice of Proposal was delivered to First Swiss on March 22, 2023. Section 21(3) of the Act provides that any person on whom a Notice of Proposal is delivered has fifteen
(15) days after the Notice of Proposal is received to request a hearing by the Financial Services Tribunal (the “Tribunal”).

On May 2, 2023, the Registrar of the Tribunal confirmed that First Swiss did not request a hearing by the Tribunal in accordance with section 21(3) of the Act. Therefore, pursuant to section 21(7) of the Act, the Director makes the following order.

ORDER

The mortgage brokerage licence (licence # 10550) and the mortgage administrator licence (licence # 11956) issued to First Swiss Mortgage Corp. are hereby revoked, for the reasons set out in the Notice of Proposal.

DATED at Toronto, Ontario, May 4, 2023.

Original signed by

Elissa Sinha
Director, Litigation & Enforcement

By delegated authority from the Chief Executive Officer

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