5160 Yonge Street 5160, rue Yonge
16th Floor 16e étage
Toronto ON Toronto (Ontario)
M2N 6L9 M2N 6L9
Telephone: 416 250 7250 Téléphone : 416 250 7250
Toll free: 1 800 668 0128 Sans frais : 1 800 668 0128
SENT BY REGISTERED MAIL and STANDARD LETTERMAIL
REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular section 441.4;
AND REGARDING Sonny Cheung
ORDER IMPOSING SUMMARY ADMINISTRATIVE PENALTY
Sonny Cheung holds a life insurance and accident and sickness insurance agent licence, licence number 05086128.
In a letter dated September 28, 2020 sent to Sonny Cheung, a delegate of the Chief Executive Officer of Financial Services (“Chief Executive Officer”) advised of the intention to impose a summary administrative penalty against Sonny Cheung for the following contravention:
1. $1,000 for failing to complete 30 hours of continuing education credits, contrary to section 14 of Ontario Regulation 347/04;
Pursuant to subsection 441.4(2) of the Act, the Chief Executive Officer provided Sonny Cheung with the opportunity to make written submissions, which were to be received by the Chief Executive Officer’s delegate on or before October 31, 2020. Sonny Cheung provided written submissions.
Therefore, pursuant to subsection 441.4(1) of the Act and Item 30 of Schedule 3 of Ontario Regulation 408/12, the Chief Executive Officer orders a summary administrative penalty against Sonny Cheung.
ORDER
A summary administrative penalty of $1,000 is imposed on Sonny Cheung.
TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Sonny Cheung, with information as to where and how to pay the administrative penalty. Sonny Cheung must pay the administrative penalty no later than thirty (30) days after the date of the invoice .
If Sonny Cheung fails to pay the administrative penalty in accordance with the terms of this Order, the Chief Executive Officer 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 the order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario on , 2020.
_________________________________________________
Jelena Pejic
Senior Manager, Licensing Compliance
By delegated authority from the Chief Executive Officer
Si vous désirez recevoir cet avis en français, veuillez nous envoyer votre demande par courriel immédiatement à : contactcentre@fsrao.ca.