IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the “Act”), in particular sections 38, and 39;
AND IN THE MATTER OF Jaswinder Dhanoa
Jaswinder Dhanoa (“Dhanoa”) was licensed as a mortgage agent (licence #M15002555) under the Act beginning on December 10, 2015, until the expiry of her licence on March 31, 2022.
On October 18, 2023, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (“FSRA”), the Director, Litigation and Enforcement (the “Director”) issued a Notice of Proposal proposing to impose administrative penalties on Dhanoa for contravening section 43(2) of the Act and sections 3 and 4(1) of Ontario Regulation 187/08.
The Notice of Proposal was delivered to Dhanoa on or around October 19, 2023. A Request for Hearing (Form 1) was delivered to the Financial Services Tribunal (the “Tribunal”) on October 27, 2023, in accordance with section 39(5) of the Act respecting the Notice of Proposal.
On October 30, 2024, Dhanoa withdrew the Request for Hearing and on October 31, 2024 the Tribunal closed its file with respect to the matter. This order is made pursuant to a Minutes of Settlement and Undertaking (the “Minutes”) entered into by Dhanoa and the Director on October 25, 2024.
Eight administrative penalties in the total amount of $52,000 are hereby imposed on Jaswinder Dhanoa, for the reasons set out in the Minutes of Settlement and Undertaking.
TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Dhanoa with information as to where and how to pay the administrative penalties. Ocampo must pay the administrative penalties no later than thirty (30) days after the Order is issued unless otherwise agreed with the Financial Services Regulatory Authority of Ontario.
If Dhanoa fails to pay the administrative penalty in accordance with the terms of this Order the Chief Executive Officer may file the Order with the Superior Court of Justice and the Order may be enforced as if it were an order of the court. An administrative penalty that is not paid in accordance with the terms of an order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario, October 31, 2024.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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