FSRA imposes an administrative penalty and compliance order on Razer Capital Corporation

Ontario's financial services regulator, FSRA, has imposed an administrative penalty in the amount of $15,000 and a compliance order to cease and desist administering mortgages in Ontario on Razer Capital Corporation (Razer Capital).

Razer Capital contravened section 5(2) of the Mortgage Brokerages, Lenders and Administrators Act, 2006 by carrying on the business of administering mortgages without a licence.

Razer Capital did not request a hearing before the Financial Services Tribunal or contest FSRA’s proposal.

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Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities. 

For media inquiries:

Ashley Legassic
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 647-719-8426
Email: [email protected]