TORONTO, July 17, 2024 /CNW/ - Ontario's financial services
regulator, FSRA, has initiated enforcement action Michael
Ryland Slattery (Slattery) and Skylark Holdings
Limited (Skylark).
FSRA alleges that Slattery is no longer suitable
for licensing as his past conduct affords reasonable grounds for
belief that he will not deal or trade in mortgages in accordance
with the law and with integrity and honesty.
Further, FSRA alleges that Skylark is no longer
suitable to be licenced under the Act as Slattery's past conduct
affords reasonable grounds for belief that the business of Skylark
will not be carried on in accordance with the law and with
integrity and honesty.
FSRA is proposing to refuse to renew the mortgage broker licence
issued to Slattery and revoke the mortgage brokerage licence issued
to Skylark.
Slattery and Skylark requested a hearing before the Financial
Services Tribunal about this proposal.
Learn more:
Access our enforcement database to see how FSRA is
working to protect consumers through its monitoring and enforcement
activities.
For media inquiries:
Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: russ.courtney@fsrao.ca
SOURCE Financial Services Regulatory Authority of Ontario