Disclaimer
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 18, 19 and 21

AND REGARDING 1904441 Ontario Inc. operating as Dominion Lernding (sic) Centres Keystone Financial Services.



ORDER TO REVOKE LICENCES

On November 21, 2016, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to revoke the mortgage brokerage licence and mortgage administrator licence of 1904441 Ontario Inc. operating as Dominion Lernding (sic) Centres Keystone Financial Services (“Keystone”) (brokerage licence #12653; administrator licence #12624), pursuant to subsection 19(2) of the Act.

On November 22, 2016, the Notice of Proposal was sent to Keystone by both registered and regular mail to the last known address according to the licensing records of the Superintendent.

Keystone had 15 days after receipt of the Notice of Proposal to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with subsection 21(3) of the Act.

The Registrar of the Tribunal has confirmed that, as of December 15, 2016, no request for a hearing has been received from Keystone or anyone on its behalf. Subsection 21(7) of the Act provides that the Superintendent may carry out the proposal to revoke a licence when no hearing has been requested.

ORDER

The mortgage brokerage licence of 1904441 Ontario Inc. operating as Dominion Lernding (sic) Centres Keystone Financial Services (brokerage licence #12653) is hereby revoked.

The mortgage administrator licence of 1904441 Ontario Inc. operating as Dominion Lernding (sic) Centres Keystone Financial Services (brokerage licence #12624) is hereby revoked.

DATED at Toronto, Ontario January 12, 2017.

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, 2017