FSRA takes enforcement action against Po Yuk (Peggy) Chan

The Financial Services Regulatory Authority of Ontario (FSRA) has issued an Order to impose fifteen (15) administrative penalties in the total amount of $60,000 on Po Yuk (Peggy) Chan (Chan).

Chan contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, as amended (Act), and its regulations as follows:

• By dealing in mortgages for remuneration outside her mortgage brokerage, contrary to section 2(3) of the Act;
• By receiving remuneration from a person or entity other than her registered brokerage, contrary to section 4(1) of Ontario Regulation 187/08; and
• By giving false or deceptive information or documents when dealing in mortgages in Ontario, contrary to section 43(2) of the Act.

FSRA issued this Order as a result of a settlement with Chan.

Learn more:

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

For media inquiries:

Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]