IN THE MATTER OF the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”), in particular sections 392.5 and 407.1;
AND IN THE MATTER OF Archibald F. Lobo.
ORDER TO REVOKE LICENCE
Archibald F. Lobo is licensed as an insurance agent (licence #99055141) under the Act.
On January 2, 2019, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to revoke insurance agent licence #99055141 issued to Archibald F. Lobo under the Act. The Superintendent determined that Archibald F. Lobo was no longer suitable to be licensed.
On January 17, 2019, a Request for Hearing (Form 1), was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with subsection 407.1(3) of the Act respecting the Notice of Proposal.
On June 8, 2019, the Financial Services Regulatory Authority of Ontario assumed the regulatory duties of the Financial Services Commission of Ontario, and the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”) assumed the regulatory duties of the Superintendent under the Act.
The Tribunal, in its Reasons for Decision dated November 22, 2019 (the “Decision”), directed that the Chief Executive Officer carry out the proposal to revoke the insurance agent licence issued to Archibald F. Lobo.
No party appealed the Decision under subsection 407.1(5) of the Act, and, therefore, the Decision is final.
ORDER
Insurance agent licence #99055141 issued to Archibald F. Lobo is hereby revoked.
DATED at Toronto, Ontario, , 2020.
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Huston Loke
Executive Vice President, Market Conduct
By delegated authority from the Chief Executive Officer,
Financial Services Regulatory Authority of Ontario
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