IN THE MATTER OF the Mortgage Brokerages, 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 Gregory Joseph Martel (“Martel”).
Martel is licensed as a mortgage broker (licence # M14001465) under the Act. Martel’s mortgage broker licence has been suspended since June 15, 2023.
On October 11, 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 and Enforcement (the “Director”) issued a Notice of Proposal to revoke the mortgage broker licence issued to Martel (the “Notice of Proposal”).
The Notice of Proposal was delivered to Martel on October 12, 2023. On November 10, 2023, the Notice of Proposal was posted on the Financial Services Regulatory Authority of Ontario website. 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 December 1, 2023, the Registrar of the Tribunal confirmed that Martel 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.
The mortgage broker licence (licence # M14001465) issued to Gregory Joseph Martel is hereby revoked, for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, December 12, 2023
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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