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Financial Services Regulatory Authority of Ontario

IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the “MBLAA”), in particular sections 16 and 21;

AND IN THE MATTER OF Chanderkant Jindal (“Jindal”).


ORDER TO SUSPEND LICENCE AND IMPOSE CONDITIONS ON LICENCE

Jindal is licensed as a mortgage agent (licence # M20002588) under the Act.

On April 28, 2025, 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 renew Jindal’s mortgage agent licence due to his past conduct in the insurance sector and for providing false information on his licence renewal application.

A Request for Hearing (Form 1) dated May 12, 2025, was delivered to the Financial Services Tribunal (the “Tribunal”), in accordance with section 39(5) of the MBLAA respecting this Notice of Proposal.

On January 2, 2026, Jindal withdrew the Request for Hearing and on January 6, 2026 the Tribunal closed its file with respect to the matter. This Order is made pursuant to a settlement entered into by Jindal and the Director.

ORDER

Jindal’s mortgage agent licence (licence # M20002588) is suspended for a period of six-months.

Upon completion of the six-month suspension, Jindal’s mortgage agent licence will be issued subject to the following conditions:

  1. Jindal’s mortgage agent licence will be a level 1 mortgage agent licence;
  2. All mortgages arranged by Jindal must be reviewed by his Principal Broker;
  3. Jindal shall not access client files at his brokerage unless he is directly involved with the client file;
  4. Jindal shall provide FSRA with a statement every three months, signed by Jindal and his Principal Broker, confirming that he is complying with his licence conditions and statutory obligations; and
  5. Jindal must comply with the above supervisory conditions for a continuous period of two years before he can apply to be a level 2 mortgage agent.

DATED at Toronto, Ontario, January 12, 2026.

Original signed by

Elissa Sinha
Director, Litigation and Enforcement

By delegated authority from the Chief Executive Officer


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