Clarification of Warning Notice Dated December 22, 2014

Ratnasingham Sivakumaran is licensed to practice mortgage brokering in Ontario

TORONTO, Feb. 11, 2015 /CNW/ - The Financial Services Commission of Ontario (FSCO) would like to provide clarification regarding its warning notice dated December 22, 2014. FSCO stated in the warning notice that "Siva Ratnasingham is not licensed to practice mortgage brokering in Ontario."

FSCO would like to clarify that Ratnasingham Sivakumaran is a licensed Ontario mortgage broker. FSCO has verified Mr. Sivakumaran's legal name. Mr. Sivakumaran advertisement's used his nickname, "Siva Ratnasingham," instead of his licensed mortgage broker name.

FSCO would like to remind brokers that in accordance with the legislation you are mandated to use the mortgage broker name you registered with FSCO in all advertising.

FSCO's website contains a list of all mortgage brokerages, administrators, brokers and agents licensed to do business in Ontario as well as tips on shopping around for a mortgage.

A licensed Ontario mortgage brokerage, administrator, broker or agent can provide information and advice on the risks involved in borrowing, lending or investing for different mortgage products. 

ADDITIONAL INFORMATION

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SOURCE Financial Services Commission of Ontario

For further information: Media inquiries, Aisha Silim, Phone: 416-226-7795, Email: Aisha.Silim@fsco.gov.on.ca; Public inquiries, 1-800-668-0128, contactcentre@fsco.gov.on.ca

RELATED LINKS
www.fsco.gov.on.ca

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Financial Services Commission of Ontario

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