IN THE MATTER OF 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 Meerwise Wais Habibzi (“Habibzi”).
ORDER TO IMPOSE ADMINISTRATIVE PENALTIES
Habibzi was previously licensed as a mortgage agent (licence #M09001653) under the Act. He was licensed from July 7, 2009, until his license expired on March 31, 2020.
On July 28, 2020, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (“Chief Executive Officer”), the Director, Litigation and Enforcement (the “Director”) issued a Notice of Proposal (“Notice of Proposal”) to impose three (3) administrative penalties in the total amount of $30,000 on Habibzi as follows:
A Request for Hearing (Form 1) dated September 21, 2020, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 39(5) of the Act respecting the Notice of Proposal.
The Tribunal held an electronic hearing on October 21 and 22, 2021.
The Tribunal, in its Reasons for Decision dated March 10, 2022, (the “Decision”), ordered the Chief Executive Officer to amend the Notice of Proposal to impose two (2) administrative penalties on Habibzi in the amount of $10,000 each, totalling $20,000 as follows:
Two (2) administrative penalties in the total amount of $20,000 are hereby imposed on Meerwise Wais Habibzi, for the reasons set out in the Decision.
TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Meerwise Wais Habibzi with information as to where and how to pay the administrative penalties. Meerwise Wais Habibzi must pay the administrative penalties no later than thirty (30) days after the date of the invoice.
If Meerwise Wais Habibzi 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 an order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario, March 24, 2022
Director, Litigation & Enforcement
By delegated authority from the Chief Executive Officer
Si vous désirez recevoir cet avis en français, veuillez nous envoyer votre demande par courriel immédiatement à : firstname.lastname@example.org.