Printed . This content is updated regularly, please refer back to https://bcfsa.ca to ensure that you are relying on the most up-to-date resources.

Submortgage Broker Information

Submortgage Broker Information

squircle icon

Adil Jafferali (Virani, Adil) Virani

exclamation-triangle icon

Conditions or Restrictions

Adil Jafferali (Virani, Adil) Virani has conditions or restrictions in place.

Telephone Number
(604) 503‑3887
Email Address
[email protected]

Active Registrations: 1

Active Registrations Registration Expiry Date Conditions or Restrictions
0952130 B.C. Ltd. 27 August 2026
  1. Adil Jafferali Virani’s (“Virani’s) registration will be restricted to 0952130 B.C. Ltd DBA Dominion LendingCentres – A Better Way or another mortgage broker (the “Mortgage Broker”) acceptable to the registrar (the“Registrar”) of the BC Financial Services Authority (“BCFSA”) for a period of not less than one (1) yearfollowing the renewal of their registration (the “Conditional Registration Period”).
  2. During the Conditional Registration Period, Virani must remain under the direct supervision of thedesignated individual of the Mortgage Broker who is acceptable to the Superintendent, and who hasconfirmed in writing to BCFSA that they have read these conditions, is aware of their duties under theseconditions, and agrees to accept these duties (the “Designated Individual”).
  3. Registrant must be under the direct supervision of the Designated Individual of the mortgage broker to which they are registered.
  4. Virani must keep the Designated Individual informed weekly, or more frequently as required, of the mortgagebroker services that they are providing and other mortgage broker-related activities that they are engaging inby providing written status reports (the “Status Reports”) to the Designated Individual that include, for eachmatter, as applicable:a. the names of the borrowers and lenders;b. the locations of the properties;c. a description of services provided;d. any other information relevant to the matter.
  5. To ensure that Virani meets their obligations under these conditions and the Legislation, the DesignatedIndividual must meet with Virani on a weekly basis, or more frequently as required, to review and discuss thefollowing:a. the most recent Status Report;b. any practice issues identified by the Designated Individual or Virani;c. the appropriate course of action for addressing any identified practice issues and/or whetherappropriate steps have been taken to address previously identified practice issues; and
  6. Virani must consult with the Designated Individual in advance of taking any action on matters in respect ofwhich there are questions or concerns regarding compliance with the Legislation, other applicablelegislation, or the Mortgage Broker’s policies and procedures.
  7. In addition to providing the Mortgage Broker with all records required under the Legislation, Virani mustprovide the Mortgage Broker with all records created in connection with the provision of mortgage brokerservices regardless of whether such records are associated with a specific transaction.
  8. Virani must obtain the Designated Individual’s approval before presenting documents prepared by Virani toborrowers or lenders for execution.
  9. Virani must provide to the Designated Individual all documents signed by borrowers and/or lenders and theDesignated Individual must review all such documents.
  10. The Designated Individual must review and sign off on all mortgage transactions involving Virani, includingany mortgage transactions that Virani is indirectly involved in. This must be adequately recorded on eachtransaction file, with a physical signature of the Designated Individual indicating that the transaction hasbeen reviewed and that Virani’s activities have been carried out competently and in compliance with theLegislation.
  11. This includes, but is not limited to a review of the following for each mortgage file:
  12. Ensuring that all disclosures have been provided to all required parties including:
  13. Form 10 – Conflict of Interest Disclosure (to borrowers and lenders);
  14. Form 9 – Investor/Lender Information Statement; and
  15. Cost of Credit Disclosure.
  16. Ensuring reasonable due diligence has been completed to mitigate risks such as fraud and moneylaundering and ensuring that the mortgage is suitable for the borrower. This includes but is not limited to:
  17. Full disclosure of the lending transactions to lenders; and
  18. Ensuring all books and records, including communication are complete and accurate.
  19. Each Interim Report will be reviewed by the Registrar, who will determine if Virani has been providingmortgage broker services in accordance with the Legislation and these conditions during the ReportingPeriod and if not, will so advise the Designated Individual and Virani.
  20. Within 30 days before the end of the Conditional Registration Period, or within 14 days after the DesignatedIndividual ceases to be the Designated Individual, whichever is earlier, the Designated Individual mustprovide a final report (the “Report”) to the Registrar confirming in relation to the Conditional RegistrationPeriod, or during the period in which Designated Individual acted as Designated Individual under theseconditions, as applicable:a. that Virani has provided mortgage broker services under their direct supervision;b. that Virani’s activities have been carried out competently and in compliance with these conditions, theLegislation, all other applicable legislation (to the best of the Designated Individual’s knowledge havingmade reasonable inquiries), and in accordance with Mortgage Broker’s policies and procedures, oralternatively, providing details of non-compliance;c. that they have reviewed all transactions in which Virani has provided mortgage broker services, and thatall documents relevant to the transactions are contained in the appropriate deal file and kept at theMortgage Broker;d. they have signed off on all mortgage transactions involving Virani as required at paragraph 11;e. they have met with Virani on a weekly basis, or more frequently as required, to discuss the mattersspecified under these conditions; andf. the number of transactions that Virani has conducted.
  21. The Report will be reviewed by the Registrar, who will determine if the Conditional Registration Period hasprovided an adequate opportunity for the Registrar to determine that Virani is providing mortgage brokerservices in accordance with the Legislation and these conditions and if not, will so advise the DesignatedIndividual and Virani.
  22. The Designated Individual must ensure that Virani receive adequate, appropriate and ongoing training withrespect to their obligations under the Legislation and the Mortgage Broker’s policies and procedures.
  23. If the Designated Individual is absent from the Mortgage Broker:a. for more than one week but less than one month, the Designated Individual may delegate their duties toanother designated individual or an associate broker who confirms their agreement to accept thesupervision duties under these conditions to the Registrar in writing; orb. for more than one month, Virani must notify the Registrar as soon as reasonably practicable in thecircumstances at the time, and approval from the Registrar for a successor designated individual tosupervise Virani must be sought as set out in paragraph 18 of these conditions.
  24. If for any reason the Designated Individual is unable to perform any of the duties imposed herein, they mustas soon as reasonably practicable in the circumstances at the time advise the Registrar.
  25. If there is a change in the designated individual of the Mortgage Broker, the former designated individualand Virani must notify the Registrar in writing as soon as reasonably practicable in the circumstances at thetime. If the Registrar determines that the successor designated individual is acceptable as a designatedindividual for the purposes of these conditions, they will be provided with a copy of these conditions and willbe asked to confirm in writing to the Registrar that they have read these conditions, are aware of their dutiesunder these conditions, and agree to accept these duties. If that designated individual fails to provide suchconfirmation within 14 days of becoming a designated individual at the Mortgage Broker, they will bedeemed to be unable or unwilling to perform the duties set out in these conditions.
  26. The Registrar retains the discretion to investigate this and any other matter relating to Virani’s registrationpursuant to section 5 of the MBA.
No conditions or restrictions