“FSCO would like to clarify that Ratnasingham Sivakumaran is a licensed Ontario mortgage broker,” an official release from the commission states. “FSCO has verified Mr. Sivakumaran's legal name. Mr. Sivakumaran advertisement's used his nickname, "Siva Ratnasingham," instead of his licensed mortgage broker name.”
On December 22, FSCO warned the industry that "Siva Ratnasingham is not licensed to practice mortgage brokering in Ontario."
It has since been rescinded, but the commission is reminding brokers to ensure they only advertise using the name registered with FSCO.
“FSCO would like to remind brokers that in accordance with the legislation you are mandated to use the mortgage broker name you registered with FSCO in all advertising,” the release states.
In late December FSCO issued a warning about an unlicensed broker operating in Ontario, which it has since rescinded. However, the commission has also provided a reminder to brokers about one rule for advertising.