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 “MBLAA”), in particular sections 2, 5, 7, 8, 19, 21, 38 and 39;

AND REGARDING Murray Sussman


Murray Sussman is a licensed mortgage broker (broker licence #M08006014). At all relevant times, Murray Sussman held a valid mortgage broker licence and was the principal broker of the mortgage brokerage known as Sussman Mortgage Funding Inc. (brokerage licence #10666).

On June 27, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal against Murray Sussman to revoke his mortgage broker licence. The Superintendent also proposed to impose an administrative monetary penalty against Murray Sussman in the amount of $3,750 for failing in his duty as the principal broker of Sussman Mortgage Funding Inc. to ensure the mortgage brokerage’s compliance with the MBLAA and its regulations, contrary to section 2 of Regulation 410/07 made under the MBLAA.

In response, Murray Sussman requested a hearing before the Financial Services Tribunal.

A settlement conference was held on January 23, 2015. A settlement document was fully executed on March 4, 2015 by all parties. Pursuant to that settlement, the Superintendent makes the following Order:


An administrative monetary penalty in the amount of $3,750 is hereby imposed on Murray Sussman.

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

If Murray Sussman fails to pay the administrative monetary penalty in accordance with the terms of this Order, the Superintendent may file the Order with the Superior Court of Justice and the 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 on the date of July 20, 2015.

Original signed by

Anatol Monid
Executive Director
Licensing and Market Conduct Division

By Delegated Authority from
The Superintendent of Financial Services