FSRA revokes the licence of Gregory Joseph Martel
The Financial Services Regulatory Authority of Ontario (FSRA) has revoked the mortgage broker licence of Gregory Joseph Martel (Martel).
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). 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.
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.
Martel did not request a hearing or contest FSRA’s proposal.
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For media inquiries:
Sr. Manager of Media Relations
Financial Services Regulatory Authority
Email: [email protected]