IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006,
S.O. 2006, c.29 (the “Act”), in particular sections 38 and 39;
AND IN THE MATTER OF John Rehman (the “Licensee”).
ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY
On May 13, 2024, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Licensing Director issued a Notice of Proposal to impose an administrative penalty in the amount of $2000 on the Licensee for failure to comply with the Act.
The Notice of Proposal was delivered to the Licensee on May 14, 2024. Section 39 of the Act provides that any person on whom a Notice of Proposal is delivered has fifteen (15) days after the Notice of Proposal is received to request a hearing by the Financial Services Tribunal (the “Tribunal”).
The Licensing Director and the Licensee have resolved the matter without a hearing and on consent.
ORDER
An administrative penalty in the amount of $2000 is hereby imposed on John Rehman.
TAKE NOTICE THAT John Rehman will be receiving an invoice from the Financial Services Regulatory Authority of Ontario with information as to where and how to make the payment. John Rehman must pay the Administrative Penalty no later than 30 days after the date of the invoice.
If John Rehman fails to pay the administrative penalty in accordance with the terms of this Order, the Chief Executive Officer may file the Order with the Superior Court of Justice and the Order may be enforced as if it were an order of the Court. An Administrative Penalty that is not paid in accordance with the terms of an order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario, May 21st, 2024.
Yovanka McBean Director of Licensing (A),
Market Conduct, Licensing and Risk Assessment
By delegated authority from the Chief Executive Officer
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