FSRA issues notice of proposal against Dewan Ahmed

The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Dewan Ahmed (Ahmed).

FSRA alleges that Ahmed is not suitable to be licensed as a mortgage agent because Ahmed made a false statement or has provided false information with respect to the application for the licence, and Ahmed’s past conduct affords reasonable grounds for belief he will not deal or trade in mortgages in accordance with the law and with integrity and honesty. This constitutes grounds to refuse the licence under subsections (1) and (3) of section 10 of Ontario Regulation 409/07 under the Mortgage Brokerages, Administrators and Lenders Act, 2006.

FSRA is proposing to refuse to issue a mortgage agent licence to Ahmed.

Ahmed requested a hearing before the Financial Services Tribunal about this proposal.

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
Sr. Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]