REGARDING the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29 (the “Act”), in particular sections 7, 19 and 21
AND REGARDING AZ Mortgages Ltd.
On July 7, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to revoke the mortgage brokerage licence of AZ Mortgages Ltd.
AZ Mortgages Ltd. 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 AZ Mortgages Ltd. or anyone on its behalf in respect of the proposal to revoke.
Section 21(7) of the Act provides that the Superintendent may carry out the proposal to revoke a licence when no hearing has been requested.
The mortgage brokerage licence of AZ Mortgages Ltd. is revoked.
DATED at Toronto, Ontario August 29th, 2014.
Original Signed By
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from:
The Superintendent of Financial Services
© Queen's Printer for Ontario, 2014