In Ontario, Dealing, Trading, Lending and Administering mortgages are all regulated activities, which requires licensing under the Mortgage Brokerages, Lenders and Administrators Act (the “Act”), as...
The Mortgage Brokerages, Lenders and Administrators Act, 2006, requires that a mortgage lender hold a brokerage license in Ontario. And that a person or...
As of July 1, 2018, the Financial Services Commission of Ontario (FSCO) will begin enforcing the changes to the O. Regulation 188/08 Mortgage Brokerages Standards of Practice under...
The Question being asked is a brother or sister of a shareholder of a mortgage investment corporation (MIC) a specified shareholder (To qualify as a MIC...
Mortgage Investment Corporations ("MICs") are on the rise in Canada. With many of these MICs the founders and managers are confused over what regulators may or...
Annually a MIC that issues its shares through a prospectus and registration exemption under securities law and regulations (e.g. not publicly traded companies), will be responsible...
A “Trade” (i.e. selling shares to investors in this case) triggers the “Registration” requirement, even if the trade is not a “distribution”. Just because there is...
