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FSRA issues notice of proposal against Sanjive Kumar (Sam) Joshi

Financial Services Regulatory Authority of Ontario
Tuesday at 3:15pm AST · January 20, 2026 1 min read

TORONTO, Jan. 20, 2026 /CNW/ – The Financial Services Regulatory Authority of Ontario, FSRA, has initiated enforcement action against Sanjive Kumar (Sam) Joshi (Joshi).

FSRA alleges that Joshi contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act) and its regulations by:

  • Carrying on business as a mortgage lender in Ontario while not being licensed or exempt, contrary to section 4(2) of the Act; and
  • Dealing in mortgages for renumeration outside of his brokerage, contrary to section 2(3) of the Act.

FSRA is proposing to refuse to renew the mortgage broker licence issued to Joshi and to impose two administrative monetary penalties in the total amount of $50,000 against Joshi.

Joshi requested a hearing 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:

Russ Courtney

Senior Manager of Media Relations

Financial Services Regulatory Authority

C: 437-225-8551

Email: russ.courtney@fsrao.ca

SOURCE Financial Services Regulatory Authority of Ontario

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