An order that is made regarding a licence holder reflects a situation at a particular point in time. The status of a licence holder can change. Readers should check the current status of a person’s or entity’s licence on the Licensing Link section of FSRA’s website. Readers may also wish to contact the person or entity directly to get additional information or clarification about the events that resulted in the order.


Financial Services Regulatory Authority of Ontario

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 Julie (Giuliana) Galati (“Galati”).


Galati is licensed as a mortgage broker (licence # M08007025) under the Act. Galati is also the principal broker of Canadian Development Capital & Mortgage Services Inc., a mortgage brokerage (licence #12979).

On September 1, 2020, and 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 impose two (2) administrative penalties in the total amount of $7,500 on Galati as follows:

  1. $5,000 for giving or assisting in giving false or deceptive information or documents when dealing in mortgages in Ontario, contrary to section 43(2) of the Act; and

  2. $2,500 for failing to take reasonable steps to ensure the brokerage and its brokers and its agents comply with every requirement established under the Act, contrary to section 2 of Ontario Regulation 410/07.

A Request for Hearing (Form 1), dated September 22, 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 December 4, 2020, Galati withdrew the Request for Hearing, and, on December 18, 2020, the Tribunal closed its file in respect of this matter. Therefore, pursuant to section 39(7) of the Act, the Director makes the following order.


Two (2) administrative penalties of $5,000 and $2,500 are hereby imposed on Julie (Giuliana) Galati, a mortgage broker (licence # M08007025), for the reasons set out in the Notice of Proposal.

TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Julie (Giuliana) Galati with information as to where and how to pay the administrative penalties. Julie (Giuliana) Galati must pay the administrative penalties no later than fifteen (15) months after the date of the invoice.

If Julie (Giuliana) Galati 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, Ontario, February 9, 2021.

Original signed by

Elissa Sinha
Director, Litigation and 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 : contactcentre@fsrao.ca.