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 Shan Jamal (“Jamal”).
Jamal was previously licensed as a Mortgage Agent Level 2 (licence #M14001503). He was initially licensed on August 28, 2014, until his licence expired on March 31, 2024.
On January 19, 2026, 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 impose two (2) administrative penalties in the total amount of $20,000 on Jamal.
The Notice of Proposal was delivered to Jamal on January 21, 2026. Section 39(5) 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 February 9, 2026, the Registrar of the Tribunal confirmed that Jamal did not request a hearing by the Tribunal in accordance with section 39(5) of the Act. Therefore, pursuant to section 39(7) of the Act, the Director makes the following order.
Two (2) administrative penalties in the total amount of $20,000 are hereby imposed on Shan Jamal for the reasons set out in the Notice of Proposal.
TAKE NOTICE THAT Financial Services Regulatory Authority of Ontario will deliver an invoice to Jamal with information as to where and how to pay the administrative penalties. Jamal must pay the administrative penalties no later than thirty (30) days after the date of this Order or as otherwise agreed on.
If Jamal 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 at Toronto, Ontario, February 13, 2026.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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