The Financial Services Regulatory Authority of Ontario imposed six administrative penalties totalling CAD 35,000 on Maryam Hasaballah for breaches of Ontario’s mortgage brokering legislation, including unsuitable mortgage recommendations, misleading information, and obstruction of an investigation. The regulator found that Hasaballah failed to take reasonable steps to ensure mortgages presented to borrowers were suitable and failed to disclose material risks, provided false and or deceptive information to lenders and borrowers, and obstructed FSRA’s investigation. Hasaballah did not request a hearing before the Financial Services Tribunal or contest FSRA’s proposal.
Financial Services Regulatory Authority of Ontario 2025-02-28
Financial Services Regulatory Authority of Ontario imposes CAD 35,000 in administrative penalties on Maryam Hasaballah
The Financial Services Regulatory Authority of Ontario imposed six administrative penalties totaling CAD 35,000 on Maryam Hasaballah for breaches of Ontario’s mortgage brokering legislation. Violations included unsuitable mortgage recommendations, misleading information, and obstruction of an investigation. Hasaballah did not contest the penalties or request a hearing.