Announcements
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FSRA imposes administrative penalties against Forest City Funding Inc. and William Handsaeme and suspends the license of William Handsaeme
Enforcement Actions
Mortgage Brokering
All
Ontario's financial services regulator, FSRA, has issued an Order imposing administrative penalties in the total amount of $75,000 against Forest City Funding Inc. (FCF) and an Order imposing an administrative penalty in the amount of $7,500 against Willian Handsaeme (Handsaeme). FSRA also issued an
FSRA imposes administrative penalties against Forest City Funding Inc. and William Handsaeme and suspends the license of William Handsaeme
Enforcement Actions
Mortgage Brokering
All
This item, issued on July 30, 2024, contains incorrect information about a contravention of 14.2 of Ontario Regulation 188/08. There was no contravention of this regulation. A correction has been issued. FSRA is committed to transparency. We have also undertaken an internal review of our processes
FSRA imposes licence conditions on Nexus Seulal
Enforcement Actions
Mortgage Brokering
All
Ontario’s financial services regulator, FSRA, imposes licence conditions on Nexus Seulal (“Seulal”). FSRA issued this order as a result of a decision of the Financial Services Tribunal (Tribunal), dated April 4, 2024. Based on Seulal’s past conduct in the banking industry, he presents an ongoing
FSRA issues notice of proposal to refuse to renew licence against Victor Ferreira and Ferreira Insurance & Investment Concepts Inc.
Enforcement Actions
Life and Health Insurance
All
Ontario’s financial services regulator, FSRA, has initiated enforcement action against Victor Ferreira and Ferreira Insurance & Investment Concepts Inc. FSRA alleges that Victor Ferreira (“Ferreira”) and Ferreira Insurance & Investment Concepts Inc. (“FIIC”) are not suitable to be licensed under the
FSRA implements temporary measures to support people impacted by rainfall and flooding in southern Ontario
Announcements
Property and Casualty and General Insurance
All
These measures will allow claims adjusters to help process insurance claims more quickly Ontario’s financial services regulator (FSRA) is implementing temporary measures to help insurers in Ontario process the high volume of claims being submitted in the wake of rainfall and flooding that recently
Durham to increase LLQP exam fees
Announcements
Cross Sector
All
To continue delivering high-quality and secure exams, Durham College – the administrator of the Life Licence Qualification Program (LLQP) exam – will increase the fees for the exam beginning August 1, 2024. FSRA wants course providers and industry to know about the fee increase in advance so they
FSRA issues notice of proposal against Michael Ryland Slattery and Skylark Holdings Limited
Enforcement Actions
Mortgage Brokering
All
Ontario's financial services regulator, FSRA, has initiated enforcement action Michael Ryland Slattery (Slattery) and Skylark Holdings Limited (Skylark). FSRA alleges that Slattery is no longer suitable for licensing as his past conduct affords reasonable grounds for belief that he will not deal or
Taking steps to track and reduce auto insurance fraud in Ontario – join FSRA’s webinar to learn about our new Proposed Rule and Guidance
Consultations
Auto Insurance
All
To reduce consumer harm and the additional costs associated with auto insurance fraud, Ontario’s Financial Services Regulator (FSRA) is proposing a new Rule on auto insurance fraud reporting. Once the Proposed Rule is in effect, insurance companies will be required to provide specific information to
Ensuring mortgage professionals are suitable to hold a license
Guidance
Mortgage Brokering
All
To better protect homebuyers and mortgage investors, Ontario’s financial services regulator (FSRA) is releasing final Guidance to help ensure current and aspiring mortgage agents and brokers are suitable to hold a licence. The Guidance helps mortgage professionals understand how past and current
FSRA issues notice of proposal to impose administrative penalties against Po Yuk (Peggy) Chan
Enforcement Actions
Mortgage Brokering
All
Ontario’s financial services regulator, FSRA, has initiated enforcement action against Po Yuk (Peggy) Chan (“Chan”). FSRA is proposing to impose administrative penalties in the total amount of $83,600 on Chan. FSRA alleges that Chan contravened the Mortgage Brokerages, Lenders and Administrators Act