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Superintendent of
Ontario Coat of Arms
Surintendant des

REGARDING the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29 (the “Act”), in particular section 38 and 39;

AND REGARDING Philip Wiper (“Mr. Wiper”);


On July 1, 2008, Mr. Wiper obtained his mortgage agent licence under the Act. Mr. Wiper’s mortgage agent license expires on March 31, 2018. His licence number is M08002967.

On August 12, 2016, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Penalty against Mr. Wiper for failure to comply with his statutory obligation not to deal in mortgages in Ontario, either directly or indirectly, unless he is acting on behalf of a mortgage brokerage or is exempted from such requirement pursuant to subsection 2(3) of the Act.

On August 25, 2016, Mr. Wiper filed a request for a hearing with the Financial Services Tribunal (the “Tribunal”).

On October 17, 2016, Mr. Wiper and the Superintendent entered into Minutes of Settlement to resolve this matter and Mr. Wiper has withdrawn his request for a hearing.


Pursuant to section 39 of the Act, an administrative penalty of $6,000 is imposed on Philip Wiper to be paid over a period of six (6) months from the date of this order.

TAKE NOTICE THAT Philip Wiper 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. Philip Wiper must pay the administrative penalty no later than 30 days after the date of the invoice.

If Philip Wiper fails to pay the administrative 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 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 21st day of November, 2016.

Original signed by

Anatol Monid
Executive Director
Licensing and Market Conduct Division

By Delegated Authority from
The Superintendent of Financial Services

© Queen's Printer for Ontario, 2016