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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 14 and 21;

AND IN THE MATTER OF Najibullah Aminzadah (“Aminzadah”).

ORDER REFUSING TO RENEW LICENCE

On April 16, 2018, Aminzadah submitted an application to renew his mortgage agent licence (licence # 16001617) under the Act. Aminzadah’s licence expired on March 31, 2018.

On April 24, 2019, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to refuse to issue a mortgage agent licence to Aminzadah.

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

FSCO and FSRA made multiple attempts to deliver the Notice of Proposal to Aminzadah. The Notice of Proposal was successfully delivered to Aminzadah on August 25, 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 October 2, 2020, the Registrar of the Tribunal confirmed that Aminzadah 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, and by delegated authority from the Chief Executive Officer, the Director, Litigation and Enforcement makes the following order.

ORDER

The mortgage agent licence application of Najibullah Aminzadah is hereby refused.

DATED at Toronto, October 19, 2020.

Original signed by

Elissa Sinha,
Director, Legal & Enforcement

By delegated authority from the Chief Executive Officer

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