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THE MORTGAGE BROKERS BROKERS ACT |
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Order No. 2804 |
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Section
5(2) |
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March 5, 2021 |
THOMAS STANDING and
SIGMAR MORTGAGE SERVICES LTD.
WHEREAS:
(A) Sigmar Mortgage Services Ltd. (“Sigmar”) is registered as a Mortgage Broker under The Mortgage Brokers Act (the “MBA”);
(B) Thomas Standing (“Standing”) is registered as the Authorized Official of Sigmar under the MBA;
(C) It appears to the Manitoba Securities Commission (“Commission”) that Sigmar and/or Standing have committed fraud or an offence under the MBA or the Regulations;
(D) The Commission is of the opinion that there is cause to suspend the registrations of Sigmar and Standing, and that it is in the public interest to make this order; and
(E) The Commission is of the opinion that the delay necessary for a hearing under subsection 5(1) of the MBA would be prejudicial to the public interest.
IT IS ORDERED THAT:
1. Under subsection 5(2) of the MBA, the registration of Sigmar be suspended without a hearing.
2. Under subsection 5(2) of the MBA, the registration of Standing be suspended without a hearing.
3. Sigmar and Standing be served with this order.
4. There be a hearing and review of this order to be held before the Commission within 30 days of the date of the suspension
BY ORDER OF THE COMMISSION
Director – Legal