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FCNB files statement of allegations against a Saint John man and company

News Release.

The Financial and Consumer Services Commission of New Brunswick (the Commission) has initiated an enforcement action against Robert G. Johnson of Saint John and his company, Oak Bay Consulting Inc. 

In a statement of allegations filed with the Financial and Consumer Services Tribunal, the Commission alleges that Johnson, who is not licensed under the Mortgage Brokers Act, arranged two separate mortgages on two Saint John properties and was paid broker fees in each instance, contrary to the Act. The Commission also alleges that Johnson violated the Cost of Credit Disclosure and Payday Loans Act by coordinating and brokering loans without registration as well as falsifying information and counselling someone to provide misleading information on a loan application. 

The Commission is seeking several remedies, including orders for Johnson to: 

  • cease all activities contravening the Mortgage Brokers Act and the Cost of Credit Disclosure and Payday Loan Act
  • return all money he and the company received through his unlicensed activity; and 
  • pay administrative penalties in amounts to be determined by the Tribunal.

Johnson has an opportunity to file a defense to the allegations. The Tribunal will schedule a hearing to adjudicate the issues and may assess financial penalties and make other orders.  

A copy of the statement of allegations can be obtained by contacting the Tribunal at 1-506-566-0695 or by emailing

FCNB has the mandate to provide regulatory services that protect the public interest, enhance public confidence and promote understanding of the regulated sectors through educational programs. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, cooperatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Online educational tools and resources are available at