The British Columbia Financial Services Authority (BCFSA) has permanently cancelled the mortgage broker registration of former mortgage broker Gregory Martel and his business, Shop Your Own Mortgage, following a hearing that found them unsuitable for registration. The cancellation took effect on 13 March 2025, after Martel had been temporarily banned from acting as a mortgage broker under an urgent order issued in 2023. BCFSA found that Martel’s bankruptcy and British Columbia Supreme Court findings of contempt of court rendered Martel and My Mortgage Auction Corp, also known as Shop Your Own Mortgage, unsuitable for registration. Martel did not participate in the hearing despite being eligible to do so. The investigation began in early 2023 after BCFSA received several complaints and, at the same time, the Victoria Police Department indicated a criminal investigation into Martel and the business had been initiated; BCFSA also referred potential securities-related issues to the BC Securities Commission, whose Criminal Investigations Branch investigation announced in June 2023 is continuing.
British Columbia Financial Services Authority 2025-03-27
British Columbia Financial Services Authority permanently cancels mortgage broker registration of Gregory Martel and Shop Your Own Mortgage
The British Columbia Financial Services Authority (BCFSA) has permanently cancelled the mortgage broker registration of Gregory Martel and his business, Shop Your Own Mortgage, due to findings of unsuitability. This decision follows Martel's bankruptcy and contempt of court findings by the British Columbia Supreme Court. The investigation, initiated in early 2023, also involves a criminal probe by the Victoria Police Department and potential securities issues referred to the BC Securities Commission.