The Financial Services Regulatory Authority of Ontario has initiated enforcement action against Sukhraj Atwal, Baiju Vijayaraghavan and Balwinder Chouhan for alleged breaches of the Mortgage Brokerages, Lenders and Administrators Act, 2006. The regulator is seeking a compliance order and CAD 50,000 in administrative penalties against Atwal, plus CAD 30,000 against Vijayaraghavan and CAD 10,000 against Chouhan. FSRA alleges that Atwal, who is not and has never been licensed, presented herself in a way that could reasonably lead others to believe she was a mortgage broker or agent and failed to cooperate with an investigation by not providing documents and information. Vijayaraghavan, who was licensed as a mortgage broker at the time of the alleged conduct but whose licence expired in 2025, is accused of giving false or deceptive information and documents when dealing in mortgages and of dealing in mortgages outside his authorized brokerage. Chouhan is alleged to have dealt in mortgages without holding a licence. All three individuals have requested hearings before the Financial Services Tribunal on FSRA’s proposals.
Financial Services Regulatory Authority of Ontario 2026-04-29
Financial Services Regulatory Authority of Ontario seeks CAD 90,000 in penalties and a compliance order against three individuals for alleged mortgage law breaches
The Financial Services Regulatory Authority of Ontario has initiated enforcement action against Sukhraj Atwal, Baiju Vijayaraghavan and Balwinder Chouhan for alleged breaches of the Mortgage Brokerages, Lenders and Administrators Act, 2006, seeking a compliance order and administrative penalties of CAD 50,000, CAD 30,000 and CAD 10,000. FSRA alleges unlicensed mortgage dealing, misrepresentation of licensing status, providing false or deceptive information and documents, dealing in mortgages outside an authorized brokerage, and failure to cooperate with an investigation. All three have requested hearings before the Financial Services Tribunal.