Superintendent of Surintendant
des
Financial services
Services financiers
REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended, in particular sections 441.1, 441.2 and 441.3;
AND REGARDING Graydon (Robert) Oldfield
ADMINISTRATIVE PENALTY ORDER
Graydon (Robert) Oldfield holds a life insurance and accident and sickness insurance agent licence issued to him under the terms of the Insurance Act (the “Act”). His licence number is 06092141.
On April 10, 2017, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Penalty in the amount of $3,000 on Mr. Oldfield. The Superintendent determined that Mr. Oldfield furnished false, misleading or incomplete information to the Financial Services Commission of Ontario, contrary to section 447(2)(a) of the Act.
The Notice of Proposal was sent by regular mail and registered mail on April 21, 2017. Mr. Oldfield had 15 days after the Notice of Proposal was given to request a hearing with the Financial Services Tribunal (“Tribunal”).
On May 12, 2017, the Registrar of the Tribunal confirmed that no request for a hearing has been received from Mr. Oldfield or anyone on his behalf.
Subsection 441.3(7) of the Act provides that the Superintendent may carry out the proposal when no hearing has been requested.
ORDER
Pursuant to section 441.3 of the Act, an administrative penalty of $3,000 is imposed on Graydon (Robert) Oldfield.
TAKE NOTICE THAT Graydon (Robert) Oldfield will shortly be receiving an invoice from Ontario Shared Services, a part of the Ministry of Government and Consumer Services, with information as to where and how to make the payment. Graydon (Robert) Oldfield must pay the administrative penalty no later than 30 days after the date of the invoice.
If Graydon (Robert) Oldfield fails to pay the administrative penalty in accordance with the terms of this Order, the Superintendent may file the Order with the Superior Court of Justice and the Order may be enforced as if it were an order of the court. An administrative penalty that is not paid in accordance with the terms of an order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario on the day of , 2017.
_____________________________
Anatol Monid
Executive Director
Licensing and Market Conduct Division
By Delegated Authority from
The Superintendent of Financial Services