IN THE MATTER OF the Mortgage Brokerage, Lenders and Administrators Act, 2006,
S.O. 2006, c. 29, as amended (the “Act”), in particular section 15;
AND IN THE MATTER OF Stephen Dostal.
ORDER AMENDING LICENCE
Stephen Dostal (“Dostal”) is licensed as a mortgage agent under the Act (licence # M08005029).
On January 21, 2020, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Executive Vice President, Market Conduct issued a Notice of Proposal to revoke the mortgage agent licence issued to Dostal.
A Request for Hearing (Form 1), dated February 2, 2020, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 21(3) of the Act respecting the Notice of Proposal.
On November 12, 2020, Dostal withdrew the Request for Hearing, and on November 25, 2020, the Registrar of the Tribunal confirmed that the Tribunal closed its file in respect of this matter. This Order is made pursuant to a settlement agreement entered into by Dostal and the Head, Licensing and Risk Assessment Branch.
Therefore, pursuant to section 15(1) of the Act, and by delegated authority from the Chief Executive Officer, the Head, Licensing and Risk Assessment Branch, makes the following Order.
The mortgage agent licence (licence # M08005029) issued to Stephen Dostal is amended to include the following conditions:
TAKE NOTICE THAT every person who fails to comply with a condition of his, her or its licence is guilty of an offence under the Act. Every individual convicted of an offence under the Act is liable to a fine up to $100,000, imprisonment for a term up to one year or both a fine and imprisonment. Every corporation convicted of an offence under the Act is liable to a fine up to $200,000.
DATED at Toronto, December 7, 2020.
Original signed by
Head, Licensing and Risk Assessment Branch
By delegated authority from the Chief Executive Officer
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