TORONTO, June 3, 2025 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement actions against Chanderkant Jindal (Jindal).
FSRA alleges that Jindal provided false or misleading statements or representations in the solicitation or registration of insurance, contrary to section 17(c) of Ontario Regulation 347/04 under the Insurance Act.
FSRA alleges that Jindal is not suitable to be licensed under the Mortgage Brokerages, Lenders and Administrators Act, and its regulations because his past and present conduct in the insurance and mortgage sectors provides reasonable grounds for belief that he will not deal or trade in mortgages in accordance with the law and with integrity and honesty. In addition, FSRA alleges that Jindal made a material misstatement or omission to FSRA on his license renewal application, contrary to section 10(3) of Ontario Regulation 409/07.
FSRA is proposing to refuse to renew the mortgage agent license of Jindal and impose an administrative penalty in the amount of $5,000 against Jindal under the Insurance Act.
Jindal has requested a hearing before the Financial Services Tribunal about these proposals.
Learn more:
Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities.
For media inquiries:
Ashley Legassic
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 647-719-8426
Email: [email protected]
SOURCE Financial Services Regulatory Authority of Ontario
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