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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, 19, 21, 38 and 39

AND REGARDING Mohammed Reza Dashtifard

 

Mohammed Reza Dashtifard is licensed under the Act as a mortgage agent.  On September 30, 2013, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Revoke Mr Dashtifard’s mortgage agent licence.

Mr. Dashtifard requested a hearing in accordance with the Act. Subsequently the Superintendent and Mr. Dashtifard entered into Minutes of Settlement to resolve this matter. According to those Minutes, Mr. Dashtifard will withdraw his request for a hearing, an Administrative Monetary Penalty will be imposed, and conditions will be placed on Mr. Dashtifard’s mortgage agent licence.  Pursuant to the Minutes of Settlement, I hereby make the following Order:

ORDER

  1. The following conditions are imposed on the mortgage agent licence of Mohammad Reza Dashtifard:

    1. Mr. Dashtifard will deal and/or trade in mortgages exclusively for Morcan Financial Inc., 7007 Islington Avenue, Suite 207, Woodbridge ON L3L 4T5 and will not transfer his licence to another mortgage brokerage without the prior written approval of the Superintendent;

    2. Mr. Dashtifard will restrict his dealing and trading in mortgages to institutional lenders only;

    3. Mr. Dashtifard will notify the Superintendent immediately in writing if he is subject to any proceeding by any regulatory and/or licensing body regarding any licence he has, or may have, that is  required in order to  deal with the public;

    4. Mr. Dashtifard will notify the Superintendent immediately in writing if he is charged with an offence in any province or country; and,

    5. The conditions upon the licence set out in paragraph 1 above will expire March 31, 2016, provided the Superintendent is satisfied that Mr. Dashtifard has complied with all the conditions throughout the licence period.

  2. The conditions upon the licence set out in paragraph 1 above will expire March 31, 2016, provided the Superintendent is satisfied that Mr. Dashtifard has complied with all the conditions throughout the licence period.


DATED
at Toronto, Ontario, May 30, 2014


Original Signed By

Philip Howell
Superintendent of Financial Services


© Queen's Printer for Ontario, 2014