Government of Saskatchewan ministries, Crown corporations and organizations are working to minimize the impacts of the postal service disruption.
Les ministères, les sociétés d’État et les organismes du gouvernement de la Saskatchewan travaillent à réduire au minimum les répercussions de l’interruption des services postaux.
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Released on March 26, 2009
The Saskatchewan Financial Services Commission (SFSC) has issued a Compliance Order dated March 23, 2009.
The Order directs Priority Mortgage Plus Financial Services Inc. to immediately cease and desist carrying on business in Saskatchewan as a loan broker and, further, to cease holding itself out as a loan broker. Also named in the Order is Dario Antic, a director.
Priority Mortgage Plus Financial Services Inc., - also operating under the names Priority Mortgage Financial Services, Inc., Priority Mortgage Plus, PMP Dealer Finance and Priority Dealer Finance (PMP) - assists people to obtain financing for the purchase of vehicles or equipment from several automobile and recreational vehicle dealerships in Saskatchewan.
In accordance with The Trust and Loan Corporations Act, 1997 (the "Act"), people who carry on the business defined as a "loan broker" must be registered with the SFSC unless exempted from the registration requirement. Registration includes the filing of a penal bond that can be used to compensate consumers in the case of a loss due to unlawful actions of the loan broker. The staff of the Superintendent of Financial Institutions informed PMP of the Act's requirements prior to June, 2008. PMP continued to carry on business in contravention of the Act after June, 2008.
In addition, PMP is unlawfully engaging in insurance activities by not pursuing licensing under the appropriate provincial legislation and by failing to report dozens of certificates of insurance purchased.
PMP and Dario Antic are being provided an opportunity to be heard with respect to this Order on April 7, 2009.
The complete order is available at www.sfsc.gov.sk.ca.
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For more information, contact:
Laur'Lei Silzer
Justice and Attorney General
Regina
Phone: 306-787-0775
Email: laurlei.silzer@gov.sk.ca
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