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 Fiducia Mortgages Inc.
On July 29, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to revoke the mortgage brokerage licence of Fiducia Mortgages Inc.
Fiducia Mortgages Inc. had 15 days after receipt 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 Fiducia Mortgages Inc. 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 Fiducia Mortgages Inc. is revoked.
DATED at Toronto, Ontario, November 12, 2014.
Original signed by
Director, Licensing Branch
By Delegated Authority from:
The Superintendent of Financial Services
© Queen's Printer for Ontario, 2014