FSRA imposes administrative penalties and a compliance order against Millicent Prince

TORONTO, Aug. 1, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has imposed a compliance order and two administrative penalties in the total amount of $5,000 against Millicent Prince ("Prince").

FSRA logo (CNW Group/Financial Services Regulatory Authority of Ontario)

Prince was previously licensed as a mortgage agent under the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, as amended (the "Act"). Prince contravened the Act and its regulations as follows:

	a. By dealing in mortgages without a mortgage broker or a mortgage agent licence, contrary to section 2(3) of the Act; and
	b. Using the title of "mortgage agent" while not licensed as a mortgage agent, contrary to section 11(5) of the Act.

 

FSRA issued these orders as a result of a settlement with Prince.

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: russ.courtney@fsrao.ca

SOURCE Financial Services Regulatory Authority of Ontario

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