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Financial Services Regulatory Authority of Ontario

IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29 (the “Act”), in particular section 18;

AND IN THE MATTER OF Ahad Mahmoudian.

 

ORDER TO SUSPEND LICENCE

Ahad Mahmoudian (“Mahmoudian”) is licensed as a mortgage agent (licence number M15000887).

Section 18(1) of the Act states that the Chief Executive Officer of the Financial Services Regulatory Authority may suspend a licence if a licensee contravenes a requirement established under the Act.

On September 24, 2019, Mahmoudian consented to a six (6) month suspension of his mortgage agent licence, issued under the Act, for contravening subsection 45(1) of the Act by providing false information on his licence application, and subsection 4(1) of Ontario Regulation 187/08 by receiving a fee outside of his brokerage.

ORDER

The mortgage agent licence M15000887 issued to Ahad Mahmoudian is hereby suspended for six (6) months, effective January 1, 2020 to June 30, 2020, inclusive.

DATED at Toronto, Ontario, December 16, 2019.

Original signed by

Wendy Horrobin
Director, Licensing Approvals

By delegated authority from the Chief Executive Officer

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