IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the “Act”), in particular sections 16, 21, 38, and 39;
AND IN THE MATTER OF Satyamkumar Trivedi.
Satyamkumar Trivedi (“Trivedi”) was licensed as a mortgage agent (licence # M17001913) under the Act. Trivedi was licensed as a mortgage agent from July 24, 2017, until March 31, 2024, when his licence expired.
On February 4, 2025, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario, the Director, Litigation and Enforcement (the “Director”) issued a Notice of Proposal to impose administrative penalties on Trivedi.
A Request for Hearing (Form 1) dated February 25, 2025, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 39(5) of the Act respecting the Notice of Proposal.
On September 26, 2025, Trivedi withdrew the Request for Hearing, and, on October 1, 2025, the Tribunal closed its file in respect of this matter. This Order is made pursuant to a settlement entered into by Trivedi and the Director.
Twenty-two (22) administrative penalties in the total amount of $180,000 are hereby imposed on Satyamkumar Trivedi 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 Satyamkumar Trivedi (“Trivedi”) with information as to where and how to pay the administrative penalties. Trivedi 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 Trivedi fails to pay the administrative penalties 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 the Order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED October 2, 2025 at Toronto, Ontario.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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