FSRA issues Notice of Proposal against Mohsen Molsen Hanasavha and Ali Kiani Nejad

TORONTO, April 22, 2026 /CNW/ – The Financial Services Regulatory Authority of Ontario, FSRA, has initiated enforcement action against Mohsen Molsen Hanasavha (Hanasavha) and Ali Kiani Nejad (Nejad).

FSRA alleges that Hanasavha dealt in mortgages and received remuneration outside his authorizing brokerage, contrary to section 2(3) of the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act) and section 4(1) of Ontario Regulation 187/08.

FSRA alleges that Nejad dealt in mortgages without a licence, contrary to section 2(3) of the Act.

FSRA is proposing to refuse to renew the mortgage agent licence issued to Hanasavha and impose a compliance order against Nejad.

FSRA is also proposing to impose administrative penalties in the amount of $20,000 against Hanasavha and $12,000 against Nejad.

Hanasavha and Nejad have requested hearings before the Financial Services Tribunal about this proposal.

Learn more:

Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities. 

For media inquiries:

Lilian Kim 

Sr. Media Relations Officer

Financial Services Regulatory Authority

(416) 617-8513

Email: Lilian.Kim@fsrao.ca

SOURCE Financial Services Regulatory Authority of Ontario