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