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, 21, 38 and 39;
AND IN THE MATTER OF Seema Makhija (the “Makhija”).
ORDER IMPOSING AN ADMINISTRATIVE PENALTY AND REVOKING LICENCE
Seema Makhija is licensed as a mortgage broker (licence # M11001716) under the Act.
On April 30, 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 revoke the mortgage broker license (License # M11001716) issued to Makhija and to impose administrative penalties on Makhija for contravening her duties as a broker, as a principal broker, and as a licensee.
This order is made pursuant to a settlement entered into by Makhija and the Director, Litigation and Enforcement, by delegated authority from the CEO.
The mortgage broker licence (licence # M11001716) issued to Seema Makhija is hereby revoked.
Administrative penalties in the total amount of $20,250 are hereby imposed on Seema Makhija.
TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Seema Makhija, with information as to where and how to pay the administrative penalty. Seema Makhija shall pay the administrative penalty in monthly instalments of $1000 until paid in full, starting no later than thirty (30) days after the date of the invoice.
If Seema Makhija 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 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
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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