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, 19 and 21;
AND IN THE MATTER OF Sergiy Shchavyelyev (“Shchavyelyev”).
On March 26, 2025, Shchavyelyev submitted an application to renew a mortgage broker licence (licence # M09002646).
On December 15, 2025, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Licensing, Market Conduct (the “Director”) issued a Notice of Proposal to refuse to renew the mortgage broker licence # M09002646 issued to Shchavyelyev.
The Notice of Proposal was delivered to Shchavyelyev on December 16, 2025. 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 January 9, 2026, the Registrar of the Tribunal confirmed that Shchavyelyev 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 renewal of the mortgage broker licence (licence # M09002646) issued to Sergiy Shchavyelyev is hereby refused, for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, Janaury 28, 2026.
Original signed by
Yovanka McBean
Director, Licensing, Market Conduct
By delegated authority from the Chief Executive Officer
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