IN THE MATTER OF the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29 (the “Act”), in particular sections 38 and 39;
AND IN THE MATTER OF Yu Lan Cai.
ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY
On January 16, 2020, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Licensing Approvals (the “Director”) issued a Notice of Proposal to Impose an Administrative Penalty of $1,750 against Yu Lan Cai (“Cai”). The Director alleged that Cai contravened subsection 45(1) of the Act by providing false or misleading information to the Chief Executive Officer in respect of a licence application.
The Director and Cai have resolved the matter without a hearing and on consent.
An Administrative Penalty in the amount of $1,750 is imposed on Yu Lan Cai.
TAKE NOTICE THAT Yu Lan Cai will be receiving an invoice from the Financial Services Regulatory Authority of Ontario with information as to where and how to make the payment. Yu Lan Cai must pay the Administrative Penalty no later than 30 days after the date of the invoice.
If Yu Lan Cai fails to pay the Administrative Penalty in accordance with the terms of this Order, the Chief Executive Officer may file the Order with the Superior Court of Justice and the Order may be enforced as if it were an order of the Court. An Administrative Penalty that is not paid in accordance with the terms of an order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario, April 15, 2020.
Original signed by
Director, Licensing Approvals
By delegated authority from the Chief Executive Officer of the Financial
Services Regulatory Authority
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