IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, as amended (the “Act”), in particular sections 18 and 21;
AND IN THE MATTER OF Kathy Locke
TO: Kathy Locke
Kathy Locke (“Locke”) is licensed as a Mortgage Broker (licence #M08003387) under the Act.
On February 12, 2026, and 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 suspend the Mortgage Broker licence issued to Locke.
Also on February 12, 2026, the Director by delegated authority from the Chief Executive Officer issued an interim order immediately suspending the Mortgage Broker licence issued to Locke.
On February 27, 2026, Locke requested a hearing by the Financial Services Tribunal with respect to the Notice.
IT IS ORDERED THAT pursuant to section 18(6) of the Act, the interim suspension order dated February 12, 2026, against Locke is extended until the Notice of Proposal is finally determined.
AND TAKE NOTICE THAT pursuant to subsections 48(4) and 49(1) and (2) of the Act, every person who fails to comply with an order made under the Act is guilty of an offence and every individual convicted of an offence under the Act is liable to a fine of not more than $500,000 or imprisonment for a term of not more than a year or both a fine and imprisonment. Every corporation convicted of an offence under the Act is liable to a fine of not more than $1,000,000.
Pursuant to subsection 48(5) of the Act, if a corporation commits an offence under the Act, every director or officer of the corporation who directed, authorized, assented to, acquiesced in or participated in the commission of the offence, or who failed to take reasonable care to prevent the corporation from committing the offence, is guilty of an offence, whether or not the corporation is prosecuted or convicted.
Subsection 48(6) provides that every partner of a partnership and every individual who is a member of the directing body of an entity, other than a person or partnership, who directed, authorized, assented to, acquiesced in or participated in the commission of an act or omission by the partnership or entity which, if committed by a person, would be an offence under the Act, is guilty of an offence.
DATED at Toronto, Ontario, March 6, 2026.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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