An order that is made regarding a licence holder reflects a situation at a particular point in time. The status of a licence holder can change. Readers should check the current status of a person’s or entity’s licence on the Licensing Link section of FSCO’s website. Readers may also wish to contact the person or entity directly to get additional information or clarification about the events that resulted in the order.


Superintendent of
Ontario Coat of Arms
Surintendant des

REGARDING the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29 (the “Act”), in particular sections 2, 38, 39 and 2

AND REGARDING Gabriel Nussbaum



The Superintendent has determined that Gabriel Nussbaum dealt in mortgages while not licensed to do so under the Act.

Pursuant to a Minutes of Settlement and Agreed Statement of Facts, listed as Schedule “A”, all of which are filed, the Superintendent and Gabriel Nussbaum have agreed to resolve this matter on consent with an Administrative Monetary Penalty and Undertaking by Gabriel Nussbaum to cease all unlicensed activity under the Act.


An administrative monetary penalty of $5,000 for dealing in mortgages while unlicensed contrary to section 2(1) of the Act, pursuant to section 39 of the Act.

TAKE NOTICE THAT Gabriel Nussbaum will be receiving shortly an invoice from Ontario Shared Services, a part of the Ministry of Government Services, with information as to where and how to make the payment. Gabriel Nussbaum must pay the respective administrative monetary penalties no later than 30 days after the date of the invoice.

If Gabriel Nussbaum fails to pay the respective administrative monetary penalties in accordance with the terms of this Order, the Superintendent may file the Order with the Superior Court of Justice and this Order may be enforced as if it were an order of the court. An administrative monetary 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, August 12, 2014.

Original Signed By

Philip Howell
Superintendent of Financial Services

© Queen's Printer for Ontario, 2014