The Superintendent of Financial Services proposed to revoke the applicant's mortgage agent licence based on past conduct involving the facilitation of investments with a third party who subsequently disappeared with the funds.
The applicant requested a hearing before the Financial Services Tribunal.
The Tribunal found that the applicant had acted recklessly, placed himself in a conflict of interest, and failed to disclose material information to his clients.
The Tribunal concluded that the applicant's past conduct afforded reasonable grounds to believe he would not deal in mortgages in accordance with the law and with integrity and honesty, and ordered the Superintendent to carry out the proposal to revoke the licence.
