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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
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 22 and 53;

AND REGARDING CapitalSense Corp



ORDER TO REVOKE LICENCE

CapitalSense Corp. (brokerage licence #12361) is a licensed mortgage brokerage under the Act.

Under section 53 of the Act, the Minister may establish fees payable under the Act. Section 10 of the Minister’s Schedule of Required Fees made under section 53 of the Act requires licensed mortgage brokerages to pay a fee of $700 on or before March 31, 2010 and on or before March 31 of every second year thereafter. This fee was due on or before March 31, 2016.

CapitalSense Corp. failed to pay the required fee before March 31, 2016.

Clause 22(1)(a) of the Act provides that the Superintendent may, by order, revoke the mortgage brokerage licence without taking the steps required by section 21 of the Act when a licensee fails to pay a fee as required under the Act.

ORDER

Pursuant to subsection 22(1) of the Act, the brokerage licence of CapitalSense Corp. (brokerage licence #12361) is hereby revoked.

DATED at Toronto, Ontario, November 15, 2016.

Original signed by

Heather Driver
Director, Licensing Branch

By Delegated Authority from:
The Superintendent of Financial Services

© Queen's Printer for Ontario, 2016