Regarding the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29, in particular sections 2 and 35
And Regarding Shaun Edwards o/a Safeguard LLC.
Shaun Edwards o/a Safeguard LLC.
4−40 Parma Court
Toronto ON M4A 1A5
On May 22, 2015 the Superintendent issued a Notice of Proposed Compliance Order under subsection 35(2) of the Mortgage Brokerages, Lenders and Administrators Act, 2006 ("the Act") against Shaun Edwards o/a Safeguard LLC.
The Notice was served on Shaun Edwards o/a Safeguard LLC. on May 27, 2015.
No request for a hearing was made within 15 days of service of the Notice.
Take Notice That the Superintendent has carried out the proposal to issue the Compliance Order pursuant to subsection 35(6) of the Act.
Take Notice That Shaun Edwards o/a Safeguard LLC. and his agents, representatives and successors are ordered, effective immediately, to:
(a) cease in Ontario soliciting persons or entities to borrow money on the security of real property;
(b) cease in Ontario providing information about a prospective borrower to a prospective mortgage lender or holding himself out as doing so;
(c) cease in Ontario assessing a prospective borrower on behalf of a prospective mortgage lender or holding himself out as doing so;
(d) cease in Ontario negotiating or arranging a mortgage on behalf of another person or entity or holding himself out as doing so;
(e) cease in Ontario accepting any fees or funds in connection with the solicitation, negotiation, or arrangement of a mortgage;
(f) cease holding himself out as able to deal in mortgages;
(g) deactivate the website: <http://sgshield.com/mortgagesloans>
(h) notify in writing all clients that Shaun Edwards o/a Safeguard LLC. and his agents, representatives and successors, cannot act for them as a mortgage broker, brokerage or agent, and provide them with a copy of the Compliance Order, and provide copies of every notification sent to each client to the Superintendent forthwith;
(i) not communicate with existing clients for a purpose related to dealing, trading, lending or administering mortgages or carrying on any mortgage brokering business, except for the express purpose of transferring his files and business to a brokerage, lender, administrator or agent licensed under the Act.
Take Notice That pursuant to subsections 48(4), 49(1) and 49(2) of the Act, every person who fails to comply with an order made under this Act is guilty of an offence and every individual convicted of an offence under the Act is liable to a fine of not more than $100,000 or imprisonment for a term of not more than a year or both a fine and imprisonment. Every corporation convicted of an offence under the Act is liable to a fine of not more than $200,000.00.
Dated at Toronto, Ontario, June 19, 2015.
original signed by "Brian Mills"
Superintendent of Financial Services