Mortgage Brokers

Decisions

29 SEPTEMBER 2022

New Brunswick (Financial and Consumer Services Commission) v. McKellar et al., 2022 NBFCST 6

A request to substitute one witness for another on a witness list was granted in accordance with Rule 8.7(2) of the Rules of Procedure. The Tribunal found the Respondents would not sustain any prejudice provided the testimony of the new witness was limited to the same facts and matters set out in the Notice of Witness for the original witness.

27 MAY 2022

Financial and Consumer Services Commission v. McKellar et al., 2022 NBFCST 3

A request to change the hearing format in an enforcement proceeding from an oral hearing with the testimony of witnesses to an oral hearing with evidence provided by way of Affidavit was denied. The Tribunal found that proceeding with Affidavit evidence would not afford it the opportunity to ask clarification questions of the witnesses nor to assess their credibility.

10 FEBRUARY 2022

Financial and Consumer Services Commission v. McKellar et al., 2022 NBFCST 2

A request to change the hearing format in an enforcement proceeding from an oral hearing with the testimony of witnesses to an oral hearing with evidence provided by way of Affidavit was denied. The Tribunal found that proceeding with Affidavit evidence would not afford it the opportunity to ask clarification questions of the witnesses nor to assess their credibility.

29 SEPTEMBER 2021

New Brunswick (Financial and Consumer Services Commission) v. Rhino Ventures Inc. et al, 2021 NBFCST 7

The Tribunal approved a settlement agreement in an enforcement proceeding. The Respondents had brokered mortgages without holding a licence, operated as a mortgage brokerage without a licence, represented borrowers and private investors in the same mortgage transaction, traded in real estate without a licence, acted as a credit broker without being registered, and made untrue statements.

14 JUNE 2021

Financial and Consumer Services Commission v. McKellar et al., 2021 NBFCST 3

A request to change the hearing format in an enforcement proceeding from an oral hearing with the testimony of witnesses to an oral hearing with evidence provided by way of Affidavit was denied. The Tribunal concluded that proceeding by way of Affidavit evidence would curtail the meaningful participation of the self-represented respondent and would not ensure a fair and meaningful process as drafting affidavits is a complex exercise.

11 MAY 2021

Financial and Consumer Services Commission v. McKellar et al., 2021 NBFCST 2

The Tribunal granted a request for an extension of time to file an Affidavit to a self-represented party, noting that preparing affidavits may be a difficult exercise for a self-represented party. The extension of the filing deadline did not impact the date for the hearing of the motion.