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Financial Services Regulatory Authority of Ontario

IN THE MATTER OF REGARDING 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 Noor Emanuel Yousif (“Yousif”).


Yousif is licensed as a mortgage broker (licence # M08009994) under the Act.

On September 28, 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 revoke the mortgage broker licence issued to Yousif and impose three (3) administrative penalties in the total amount of $15,000 on Yousif for:

  1. Contravening subsection 43(2) of the Act by giving false or deceptive information or documents when dealing or trading in mortgages;

  2. Contravening subsection 4(1) of O. Reg. 187/08 by receiving remuneration for dealing or trading in mortgages directly from a person other than the brokerage on whose behalf Yousif was authorized to deal or trade in mortgages; and

  3. Contravening subsection 45(1) of the Act by providing false or misleading information to a person designated by the Chief Executive Officer in respect of a matter related to the Act or the regulations.

A Request for Hearing (Form 1), dated October 14, 2020, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 39(5) of the Act respecting the Notice of Proposal.

On March 24, 2021, Yousif withdrew the Request for Hearing, and, on March 25, 2021, the Tribunal closed its file in respect of this matter. This order is made pursuant to a settlement entered into by Yousif and the Director.


Three (3) administrative penalties in the total amount of $7,000 are hereby imposed on Noor Emanuel Yousif.

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

If Noor Emanuel Yousif 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, March 29, 2021.

Original signed by

Elissa Sinha
Director, Litigation and Enforcement

By delegated authority from the Chief Executive Officer

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