The Financial Services Regulatory Authority of Ontario issued a compliance order and administrative penalties totalling CAD 3,500 against Iftikhar Ahmad Qadeer following a settlement. The action relates to alleged contraventions of the Mortgage Brokerages, Lenders and Administrators Act, 2006, including dealing in mortgages in Ontario for remuneration without a licence or exemption (section 2(3)) and using an email address that could reasonably lead others to believe he was a mortgage agent when he was not licensed as one (section 11(6)).
Financial Services Regulatory Authority of Ontario 2026-04-20
Financial Services Regulatory Authority of Ontario imposes $3,500 penalties and a compliance order for unlicensed mortgage activity
The Financial Services Regulatory Authority of Ontario issued a compliance order and administrative penalties totalling CAD 3,500 against Iftikhar Ahmad Qadeer following a settlement. The action concerns alleged breaches of the Mortgage Brokerages, Lenders and Administrators Act, 2006, including dealing in mortgages for remuneration without a licence or exemption and using an email address that could reasonably lead others to believe he was a licensed mortgage agent.