The Financial Services Regulatory Authority of Ontario has issued a notice of proposal commencing enforcement action against Andrew White in relation to alleged unlicensed mortgage activity. FSRA alleges White contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006 and its regulations by dealing in mortgages without a licence (section 2(3)) and carrying on business as an unlicensed mortgage lender (section 4(2)). The regulator is proposing two administrative penalties totalling CAD 25,000. White has requested a hearing before the Financial Services Tribunal regarding the proposed penalties.
Financial Services Regulatory Authority of Ontario 2025-08-27
Financial Services Regulatory Authority of Ontario proposes CAD 25,000 in penalties against Andrew White for unlicensed mortgage dealing and lending
The Financial Services Regulatory Authority of Ontario has initiated enforcement action against Andrew White for alleged unlicensed mortgage activity, contravening the Mortgage Brokerages, Lenders and Administrators Act, 2006. The regulator proposes two administrative penalties totaling CAD 25,000. White has requested a hearing before the Financial Services Tribunal.