FSRA imposes administrative penalty against Yujun (Janet) Shi
Ontario's financial services regulator, FSRA, has imposed administrative penalties in the total amount of $145,000 against Yujun (Janet) Shi (Shi).
Shi was previously licenced as a mortgage agent under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act). Shi contravened the Act as follows:
- By dealing in mortgages for remuneration while not acting on behalf of their mortgage brokerage, contrary to section 2(3) of the Act;
- By receiving remuneration from a person other than their mortgage brokerage, contrary to section 4(1) of Ontario Regulation 187/08; and
- By acting in circumstances where they ought to know they were being used to facilitate dishonesty, fraud, crime, or illegal conduct, contrary to section 3.1 of Ontario Regulation 187/08.
FSRA issued this order as a result of a settlement with Shi.
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For media inquiries:
Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]
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