IN THE MATTER OF the Mortgage Brokerage, Lenders and Administrators Act, 2006, S.O. 2006, c. 29, as amended (the “Act”), in particular section 22 and 40;
AND IN THE MATTER OF Bridlepath Capital Corporation (“Bridlepath Capital”).
ORDER TO REVOKE LICENCE
Bridlepath Capital is licensed as a mortgage administrator (licence # 12952) under the Act.
On January 13, 2021, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “CEO”), a Regulatory Discipline Officer (“RDO”) issued an Order by registered mail to impose a Summary Administrative Monetary Penalty (“SAMP”) in the amount of $ 1,000 on Bridlepath Capital for failing to submit the 2019 Annual Information Return, contrary to section 2 of Ontario Regulation 193/08.
The SAMP invoice was sent to Bridlepath Capital by email and registered mail on
January 21, 2021.
On May 26, 2021, the RDO sent a written notice by email to Bridlepath Capital, advising that, in accordance with section 22(1) of the Act, Bridlepath Capital’s license would be revoked for failure to pay the outstanding SAMP unless payment was received by 15 business days from May 26, 2021. The written notice was also sent by registered mail to Bridlepath Capital on June 3, 2021. As of July 27, 2021, the SAMP invoice remains outstanding.
Therefore, pursuant to section 22(1) of the Act, the Head of Licensing & Risk Assessment, makes the following order:
The mortgage administrator licence (licence # 12952) issued to Bridlepath Capital Corporation is hereby revoked, for the reasons set out above.
DATED at Toronto, Ontario, August 13, 2021.
Original signed by
Head, Licensing & Risk Assessment
By delegated authority from the Chief Executive Officer
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