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 Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the “Act”), in particular sections 16 and 21;



On March 23, 2018, Denis Gilbert (“Gilbert”) submitted an application to renew a mortgage agent licence (licence # M08009273).

On September 4, 2018, pursuant to sections 16 and 21 of the Act, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to refuse to renew the mortgage agent licence (licence # M08009273) issued to Gilbert. The Superintendent determined that Gilbert was no longer suitable to be licensed.

On November 1, 2018, a Request for Hearing (Form 1), was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with subsection 21(3) of the Act respecting the Notice of Proposal.

On June 8, 2019, the Financial Services Regulatory Authority of Ontario assumed the regulatory duties of the Financial Services Commission of Ontario, and the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”) assumed the regulatory duties of the Superintendent under the Act.

The Tribunal, in its Reasons for Decision dated February 21, 2020 (the “Decision”), directed the Chief Executive Officer to carry out the proposal to refuse to renew Gilbert’s mortgage agent licence.


The renewal of the mortgage agent licence issued to Gilbert (licence # M08009273) is hereby refused, for the reasons set out in the Decision.

DATED at Toronto, Ontario, May 5, 2020.

Original signed by

Huston Loke
Executive Vice President, Market Conduct
By delegated authority from the Chief Executive Officer

Si vous désirez recevoir cet avis en français, veuillez nous envoyer votre demande par courriel immédiatement à : contactcentre@fsrao.ca.