FSRA imposes conditions on mortgage broker licence and administrative penalties on Rahman Mohammed

TORONTO, Jan. 12, 2026 /CNW/ - The Financial Services Regulatory Authority of Ontario, FSRA, has imposed conditions on the mortgage broker licence issued to Rahman Mohammed (Mohammed) and imposed administrative penalties in the total amount of $15,000 on Mohammed.

Mohammed:

• Failed to take reasonable steps as the Principal Broker, to ensure that his brokerage and himself complied with the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, as amended, contrary to section 2(1) of Ontario Regulation 410/07;
• Caused his brokerage to fail to take sufficient steps to verify a borrower's identity, contrary to section 3 of Ontario Regulation 187/08 and section 11(2) of Ontario Regulation 188/08;
• Caused his brokerage to fail to take reasonable steps to ensure a mortgage was suitable for a borrower, contrary to section 3 of Ontario regulation 187/08 and section 24(1) of Ontario Regulation 188/08; and
• Facilitated dishonesty and illegal conduct, contrary to section 3.1 of Ontario Regulation 187/08; and

FSRA issued this Order as a result of a settlement with Mohammed.

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: [email protected]

SOURCE Financial Services Regulatory Authority of Ontario