FSRA moves to refuse renewal of mortgage agent’s licence
The regulator’s announcement did not describe the conduct in question. It also did not say which licence level Angelidis holds, which brokerage authorized her, or when a hearing might take place.
Suitability under scrutiny
The case fits a broader push by FSRA to police who is fit to hold a licence. When it released its final licensing suitability guidance in July 2024, Huston Loke, FSRA’s executive vice-president of market conduct, said: “This is the first time we’re releasing guidance that explains how we assess if someone is suitable to hold a licence, strengthening sector practices and further protecting Ontarians working with mortgage professionals.”
FSRA’s guidance says the regulator may refuse, restrict, suspend or revoke a licence if it has reasonable grounds to believe someone is unsuitable. It also says oversight of agents and brokers is a brokerage’s ongoing responsibility.
Recent notices have turned on similar questions. In a December 2025 notice, FSRA alleged that a Level 2 agent answered “No” on a renewal application when asked whether he was under investigation. A March 2026 notice proposed refusing another agent’s renewal in a case FSRA framed as a test of suitability. Those cases are separate from Angelidis’s, and the hearing requests in each remain unresolved.
What happens next
A notice of proposal is not a final decision. In a 2025 case, CMP reported that FSRA may proceed with its proposed order if no hearing is requested within 15 days of receipt. Because Angelidis requested one, the Tribunal will review the proposal.
