IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, as amended (the “Act”), in particular sections 18, 19 and 21;
AND IN THE MATTER OF Amarjit Rocky Dubb.
ORDER TO REVOKE LICENCE
Amarjit Rocky Dubb (“Amarjit Dubb”) is licensed as a mortgage agent under the Act (licence # M13000767).
On May 14, 2019, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to revoke the mortgage agent licence issued to Amarjit Dubb under the Act.
Effective June 8, 2019, pursuant to the Financial Services Regulatory Authority of Ontario Act, 2016, S.O. 2016, c. 37, Sched. 8, the Financial Services Regulatory Authority of Ontario (“FSRA”) became the regulator under the Act and the powers and duties previously vested in the Superintendent under the Act were vested in the Chief Executive Officer of FSRA (the “Chief Executive Officer”).
The Notice of Proposal was delivered to Amarjit Dubb on July 10, 2019. Sections 21(2) and (3) of the Act provide that any person on whom a Notice of Proposal is served has fifteen (15) days after receiving the Notice of Proposal to request a hearing by the Financial Services Tribunal (the “Tribunal”).
On August 1, 2019, the Registrar of the Tribunal confirmed that Amarjit Rocky Dubb did not request a hearing by the Tribunal in accordance with section 21(3) of the Act. Therefore, pursuant to section 21(7) of the Act, and by delegated authority from the Chief Executive Officer, the Executive Vice President, Market Conduct, makes the following order.
The mortgage agent licence issued to Amarjit Rocky Dubb is hereby revoked.
DATED at Toronto, Ontario, January 10, 2020.
Original signed by
Executive Vice President, Market Conduct
By delegated authority from the Chief Executive Officer
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