REGARDING the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29 (the “Act”), in particular, sections 9, 14, and 21; and section 10 of Ontario Regulation 409/07
AND REGARDING Visvanilani Ravindran
On August 28, 2010, Visvanilani Ravindran (“Ravindran”) applied to be licensed under the Act as a mortgage agent working for Dominion Lending Centres.
On December 27, 2012, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Refuse Application (“Notice”) and the Notice, along with Reasons, was served on Ravindran by regular and registered mail on December 28, 2012. It is deemed to have been received by Ravindran five days later.
Ravindran had 15 days after service of the Notice to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with section 21(2) of the Act.
The Registrar of the Tribunal has confirmed that no request for a hearing has been received from Ravindran or anyone on her behalf.Section 21(7) of the Act provides that the Superintendent may carry out the proposal to refuse to issue a licence when no hearing has been requested
The application for a mortgage agent licence submitted by Ravindran dated August 28, 2010, is refused.
Dated at Toronto, Ontario, January 30, 2013
Original Signed By
Superintendent of Financial Services
© Queen's Printer for Ontario, 2013