▲ 40 r/TorontoRealEstate
Mortgage sector hit hard by Ontario regulator for fraudulent documents, licence issues and other infractions
From the story:
- Ontario’s financial regulator increased enforcement actions to 100 in the 2024-2025 fiscal year, up from 65 the previous year.
- The mortgage sector accounted for 21 of 32 total investigations undertaken by the Financial Services Regulator Authority of Ontario.
- The regulator applied $1.2 million in monetary penalties after maximum fines rose to $100,000 for individuals.
- There were 25 orders to revoke and refuse licences in the mortgage and insurance sectors.
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u/toronto_star — 7 hours ago