Toast

The issue wasn't that they discovered or disciplined the brokers involved immediately. 

In fact, they did. 

The issue is that they didn't immediately disclose that fact. Actually, if you read their 2014 year end statement and the MD&A that was released in Feb of 2015 they blamed the drop in 'originations' on seasonality, the weather etc. 

This in fact was not true and the board knew this as they were in the process of severing ties with brokers that had falsified documents. 
 
National Instrument 51-102, 'Continuous Disclosure Obligations', Section 7 clearly spells out what the board's obligations were. 

As soon as a material change occurred, the board had to immediately release that information publicly and fill out a 'material change report' and file it with the OSC.  They did not do this ergo the issue with the OSC.  The OSC wasn't informed until one of the board members went to the OSC later that year. 

My question is, why did it take the OSC two years to lay charges?