IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the “Act”), in particular sections 14 and 21;
AND IN THE MATTER OF DEWAN AHMED (“Ahmed”).
On October 17, 2022, Ahmed submitted an application for a Mortgage Agent licence under the Act.
On October 27, 2023, 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 refuse to issue the mortgage agent licence to Ahmed.
A Request for Hearing (Form 1) dated October 30, 2023 was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 21(3) of the Act respecting the Notice of Proposal.
On April 16, 2024, Ahmed withdrew the Request for Hearing, and, on April 18, 2024, the Tribunal closed its file in respect of this matter. Therefore, pursuant to section 21(7) of the Act, the Director makes the following order.
The issuance of the Mortgage Agent licence to Ahmed is hereby refused, for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, April 22, 2024.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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