Disclaimer
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 FSRA’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 38 and 39;

AND IN THE MATTER OF Roger Pelletier (“Pelletier”).

ORDER IMPOSING ADMINISTRATIVE PENALTIES

Pelletier was licensed as a mortgage broker (licence # M12000097) under the Act. Pelletier’s licence expired on March 31, 2020.

Pelletier was the principal broker of FirstLine Capital Management Inc. (licence number 12518).

On August 26, 2020, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Litigation and Enforcement (the “Director”) issued a Notice of Proposal to impose two (2) administrative penalties in the total amount of $15,000 on Pelletier for failing to take reasonable steps to ensure that the brokerage, and each broker and agent authorized to deal or trade in mortgages on its behalf, complied with every requirement established under the Act, and for failing to determine whether the brokerage had adequate policies and procedures, contrary to sections 2(1) and 3 of Ontario Regulation 410/07, respectively.

The Notice of Proposal was delivered to Pelletier on September 8, 2020. Section 39(5) 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 October 6, 2020, the Registrar of the Tribunal confirmed that Pelletier did not request a hearing by the Tribunal in accordance with section 39(5) of the Act.

Therefore, pursuant to section 39(7) of the Act, the Director makes the following order.

ORDER

Two (2) administrative penalties in the total amount of $15,000 are hereby imposed on Roger Pelletier, for the reasons set out in the Notice of Proposal.

TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Pelletier, with information as to where and how to pay the administrative penalty. Pelletier must pay the administrative penalties no later than thirty (30) days after the date of the invoice.

If Pelletier fails to pay the administrative penalties 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 the order imposing the penalty is a debt due to the Crown and is enforceable as such.

DATED at Toronto, Ontario, October 9, 2020.

Original signed by

Elissa Sinha
Director, Litigation and Enforcement

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.