FSRA refuses to renew the licence and imposes administrative penalties against Manpreet Ghai

Ontario’s Financial Services Regulator, FSRA has refused to renew the mortgage agent licence of Manpreet Ghai (Ghai) and imposed administrative penalties in the total amount of $18,000 against Ghai.

Ghai was previously licensed as a mortgage agent under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act). Ghai contravened the Act by providing false or deceptive information and documents when dealing with mortgages in Ontario contrary to subsection 43(2) of the Act and by giving false or deceptive information to FSRA contrary to subsection 45(1) of the Act.

FSRA issued these Orders as a result of a settlement with Ghai.

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For media inquiries:

Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]