FSRA issues notice of proposal against Gregory Joseph Martel

The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Gregory Joseph Martel (Martel).

FSRA alleges that Martel is not suitable to be licensed under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act).

Martel was the principal broker and sole director of My Mortgage Auction Corp (MMAC). FSRA alleges that Martel provided false or deceptive information to FSRA, contrary to subsection 45(2) of the Act, and failed to take reasonable steps to ensure MMAC’s compliance requirements under the Act, contrary to section 2 of Ontario Regulation 410/07.

FSRA further alleges that Martel’s contempt of court and bankruptcy afford reasonable grounds for belief that he will not deal or trade in mortgages in accordance with the law and with integrity and honesty.

FSRA is proposing to revoke the mortgage broker licence of Martel.

Martel may request 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 (FSRA)
T: 437-225-8551
E: [email protected]