The Financial Services Regulatory Authority of Ontario (FSRA) issued notices of proposal against Chanderkant Jindal, initiating enforcement action that would refuse to renew his mortgage agent licence and impose an administrative penalty of CAD 5,000. FSRA alleges Jindal made false or misleading statements or representations in the solicitation or registration of insurance, contrary to section 17(c) of Ontario Regulation 347/04 under the Insurance Act. It also alleges he is not suitable to be licensed under the Mortgage Brokerages, Lenders and Administrators Act because his conduct in the insurance and mortgage sectors gives reasonable grounds to believe he will not deal or trade in mortgages in accordance with the law and with integrity and honesty, and that he made a material misstatement or omission on his licence renewal application, contrary to section 10(3) of Ontario Regulation 409/07. Jindal has requested a hearing before the Financial Services Tribunal regarding the proposals.
Financial Services Regulatory Authority of Ontario 2025-06-03
Financial Services Regulatory Authority of Ontario proposes to refuse renewal of Chanderkant Jindal’s mortgage agent licence and impose CAD 5,000 penalty
The Financial Services Regulatory Authority of Ontario is taking enforcement action against Chanderkant Jindal, proposing to refuse his mortgage agent licence renewal and impose a CAD 5,000 penalty. FSRA alleges Jindal made false statements in insurance solicitation and is unsuitable for licensing under the Mortgage Brokerages, Lenders and Administrators Act due to integrity concerns. Jindal has requested a hearing before the Financial Services Tribunal.