FSRA issues notice of proposal to impose administrative penalties against Po Yuk (Peggy) Chan

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, 2006, S.O. 2006, c.29, as amended (the “Act”), and its regulations as follows:

  1. By dealing in mortgages outside her brokerage, contrary to section 2(3) of the Act.
  2. By receiving renumeration outside her brokerage, contrary to section 4(1) of Ontario Regulation 187/08
  3. By providing false information and deceptive documents, contrary to section 43(2) of the Act.

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

Enforcement Actions