Le Lézard
Classified in: Business
Subject: LAW

FSRA issues notice of proposal against Millicent Prince


TORONTO, Sept. 14, 2023 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Millicent Prince (Prince).

FSRA alleges that Prince was dealing in mortgages while Prince's licence was suspended, and also after it was subsequently revoked, contrary to section 2(3) of the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act). FSRA also alleges that Prince used the title of "mortgage agent" while not licenced as a mortgage agent, contrary to section 11(5) of the Act.

FSRA is proposing to issue a Compliance Order on Prince and to impose administrative penalties in the amount of $10,000 on Prince.

Prince requested a hearing before the Financial Services Tribunal about this proposal.

Learn more:

FSRA is working to protect consumers through its monitoring and enforcement activities.

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

Learn more at www.fsrao.ca.

For media inquiries:

Russ Courtney
Senior Manager, Media Relations, Social Media and Issues Management
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]

SOURCE Financial Services Regulatory Authority of Ontario


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