FSRA imposes administrative penalty against Elvira Montoya

The Financial Services Regulatory Authority of Ontario (FSRA) issued an order imposing an administrative penalty in the amount of $10,000 on Elvira Montoya.

Elvira Montoya circulated documents which contained false licensing numbers and depicted her corporation's services as that of a mortgage brokerage without being licensed under the Act, contrary to section 11 of the Mortgage Brokerages, Lenders and Administrators Act, 2006.

FSRA issued this order as a result of a settlement with Elvira Montoya.

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FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

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For media inquiries:

Russ Courtney
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]

Enforcement Actions