The Financial Services Regulatory Authority of Ontario issued orders imposing an administrative penalty of CAD 6,000 on mortgage broker Renkai Lin, adding a condition to Lin’s mortgage broker licence, and suspending the mortgage brokerage licence of ZK Financial Inc. for two months. The action follows a settlement with Lin and ZK Financial and relates to a contravention of the Mortgage Brokerages, Lenders and Administrators Act, 2006, in which Lin provided false or misleading information to the Chief Executive Officer on his own behalf and on behalf of ZK Financial, contrary to subsection 45(1) of the Act.
Financial Services Regulatory Authority of Ontario 2025-06-13
Financial Services Regulatory Authority of Ontario imposes CAD 6,000 penalty and licence condition on Renkai Lin and suspends ZK Financial for two months
The Financial Services Regulatory Authority of Ontario imposed a CAD 6,000 penalty on mortgage broker Renkai Lin, added a condition to Lin’s licence, and suspended ZK Financial Inc.'s licence for two months. This enforcement action follows a settlement related to Lin providing false or misleading information under the Mortgage Brokerages, Lenders and Administrators Act, 2006.