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FSRA imposes fourteen administrative penalties on Wilson Yip Chau

TORONTO, June 6, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has imposed 14 administrative penalties in the total amount of $75,000 on Wilson Yip Chau (Chau).

Chau was previously licensed as a mortgage agent under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act). Chau contravened the Act by submitting false or deceptive information to lenders in respect of 13 mortgage applications, contrary to section 43(2) of the Act. Chau also failed to comply with a summons from FSRA contrary to section 34(2) of the Act.

Chau did not request a hearing or contest FSRA's Notice of Proposal.

Learn more:

Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities.

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For media inquiries:

Ashley Legassic
Acting Sr. Manager, Media Relations
Financial Services Regulatory Authority
C: 647-719-8426
Email: ashley.legassic@fsrao.ca

SOURCE Financial Services Regulatory Authority of Ontario

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View original content: http://www.newswire.ca/en/releases/archive/June2024/06/c2614.html