Disclaimer
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
Financial
Services
 
Ontario Coat of Arms
 
Surintendant des
services
financiers
 

REGARDING the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29 (the “Act”), in particular sections 9, 14 and 21

AND REGARDING Pretam Poonai

 

ORDER

On August 22, 2013, Pretam Poonai applied to be licensed under the Act as a mortgage agent.

On June 16, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Refuse Application and the Notice of Proposal, along with reasons, was sent to Mr. Poonai by regular and registered mail on June 16, 2014. It was successfully delivered on June 19, 2014.

Mr. Poonai had 15 days after service of the Notice to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with section 21(3) of the Act.

The Registrar of the Tribunal has confirmed that no request for a hearing has been received from Mr. Poonai or anyone on his 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 Pretam Poonai on August 22, 2013 is refused.

DATED at Toronto, Ontario, August 20, 2014.


Original Signed By

Grant Swanson
Executive Director, Licencing and Market Conduct Division
by Delegated Authority from:
Philip Howell
Superintendent of Financial Services

 

© Queen's Printer for Ontario, 2014