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 More Consulting Inc.
ORDER TO REVOKE LICENCE
On May 30, 2016, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to revoke the mortgage brokerage licence of More Consulting Inc. (brokerage licence #11156), pursuant to section 19(1) of the Act. The Superintendent had determined that the brokerage failed to submit its 2014 annual information return by March 31, 2015, and therefore contravened section 29(1) of the Act.
On May 31, 2016, the Notice of Proposal was served on More Consulting Inc. at the last known address according to the licensing records of the Superintendent.
More Consulting Inc. had 15 days after service of the Notice of Proposal 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, as of June 21, 2016, no request for a hearing has been received from More Consulting Inc. or anyone on its behalf.
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 More Consulting Inc. (brokerage licence #11156) is hereby revoked.
DATED at Toronto, Ontario, July 11, 2016.
Original signed by
Director, Licensing Branch
Licensing and Market Conduct Division
By Delegated Authority from
The Superintendent of Financial Services