FSRA issues notice of proposal against Patricia Porretta
The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Patricia Porretta (Porretta).
FSRA alleges that Porretta provided false or deceptive information when dealing in mortgages, contrary to section 43(2) of the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act). FSRA also alleges that Porretta dealt in mortgages outside of her mortgage brokerage, contrary to section 2(3) of the Act.
FSRA is proposing to impose administrative penalties in the total amount of $30,000 against Porretta.
Porretta has requested a hearing before the Financial Services Tribunal.
FSRA is working to protect consumers through its monitoring and enforcement activities.
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.
For media inquiries:
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
Email: [email protected]