FSRA imposes administrative penalty and imposes conditions on mortgage broker licence of Renkai Lin and suspends the mortgage brokerage licence of ZK Financial Inc.

TORONTO, June 13, 2025 /CNW/ - Ontario's financial services regulator, FSRA, has issued Orders imposing an administrative penalty of $6,000 against Renkai Lin ("Lin"), imposing a condition on Lin's mortgage broker licence, and suspending the mortgage brokerage licence of ZK Financial Inc. ("ZK Financial") for a period of 2 months.

Lin contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006 ("Act") by giving false or misleading information to the CEO on behalf of himself and on behalf of ZK Financial, contrary to subsection 45(1) of the Act.

FSRA issued these Orders as a result of a settlement with Lin and ZK Financial.

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For media inquiries:

Ashley Legassic
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 647-719-8426
Email: ashley.legassic@fsrao.ca

SOURCE Financial Services Regulatory Authority of Ontario