The Financial Services Regulatory Authority of Ontario (FSRA) has imposed administrative penalties totalling CAD 145,000 against Yujun (Janet) Shi, who was previously licensed as a mortgage agent under the Mortgage Brokerages, Lenders and Administrators Act, 2006. The order follows a settlement with Shi and relates to contraventions including dealing in mortgages for remuneration while not acting on behalf of their mortgage brokerage, receiving remuneration from a person other than their mortgage brokerage, and acting in circumstances where they ought to have known they were being used to facilitate dishonesty, fraud, crime, or illegal conduct.
Financial Services Regulatory Authority of Ontario 2025-03-17
Financial Services Regulatory Authority of Ontario imposes CAD 145,000 administrative penalty on former mortgage agent Yujun Shi for mortgage dealing and remuneration breaches
The Financial Services Regulatory Authority of Ontario imposed administrative penalties totaling CAD 145,000 on Yujun (Janet) Shi, a former licensed mortgage agent. The penalties relate to contraventions under the Mortgage Brokerages, Lenders and Administrators Act, 2006, including unauthorized dealings and facilitating dishonest or illegal conduct.