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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.

 

Financial Services Regulatory Authority of Ontario

IN THE MATTER OF the Mortgage Brokerage, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the “Act”), in particular sections 19 and 21;

AND IN THE MATTER OF Svetlana Belkina (“Belkina”).

ORDER TO REVOKE LICENCE

Belkina is licensed as a mortgage agent (licence # M08005673) under the Act.

On January 8, 2020, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Executive Vice President, Market Conduct (the “EVP”) issued a Notice of Proposal to revoke the mortgage agent licence (licence # M08005673) issued to Belkina.

The Notice of Proposal was delivered to Belkina on January 29, 2020. Section 21(3) of the Act provides that any person on whom a Notice of Proposal is delivered has fifteen (15) days after the Notice of Proposal is received to request a hearing by the Financial Services Tribunal (the “Tribunal”).

On March 25, 2020, the Registrar of the Tribunal confirmed that Belkina 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, the Director of Licensing Approvals makes the following order.

ORDER

The mortgage agent licence (licence # M08005673) issued to Svetlana Belkina is hereby revoked, for the reasons set out in the Notice of Proposal.

DATED at Toronto, Ontario, March 30, 2020.

Original signed by

Wendy Horrobin
Director, Licensing Approvals

By delegated authority from the Chief Executive Officer


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