IN THE MATTER OF the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 441, 441.2 and 441.3;
AND IN THE MATTER OF Peter Maccabe (“Maccabe”);
AND IN THE MATTER OF 2070375 Ontario Inc. o/a McGill Health Services (“McGill”).
ORDER TO IMPOSE COMPLIANCE ORDER AND ADMINISTRATIVE PENALTIES
McGill was previously licensed as a corporate life insurance agent (licence #31983M) under the Act until its licence expired on June 16, 2015. Maccabe is the sole director and officer of McGill. Maccabe has never been licensed under the Act.
On February 19, 2021, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Litigation and Enforcement (the “Director”) issued a Notice of Proposal to impose a compliance order for McGill to immediately cease soliciting insurance business in Ontario and permanently cease operating six listed websites and to impose two (2) administrative penalties in the total amount of $15,000 as follows:
a) $5,000 on Maccabe for failing to comply with a requirement established under the Act, namely, an obligation assumed by way of an undertaking under the Act as defined under section 444.1(d); and
b) $10,000 on McGill for failing to comply with a requirement established under the Act, namely, an obligation assumed by way of an undertaking under the Act as defined under section 444.1(d) of the Act.
A Request for Hearing (Form 1) dated March 19, 2021, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with sections 441(3) and 441.3(5) of the Act respecting the Notice of Proposal.
On March 4, 2022, the Tribunal, in its Reasons for Decision, dismissed Maccabe’s and McGill’s Request for Hearing. Therefore, pursuant to sections 441 and 441.3 of the Act and by delegated authority from the Chief Executive Officer, the Director makes the following order.
ORDER
An administrative penalty in the amount of $5,000 is hereby imposed on Peter Maccabe, for the reasons set out in the Notice of Proposal.
An administrative penalty in the amount of $10,000 is hereby imposed on 2070375 Ontario Inc. o/a McGill Health Services, for the reasons set out in the Notice of Proposal.
For the reasons set out in the Notice of Proposal, it is hereby ordered that 2070375 Ontario Inc. o/a McGill Health Services immediately cease soliciting insurance business in Ontario and permanently cease operating the following website:
d. www.trilliumwealthmanagement.com
e. www.mcgillwealthmangement.com
TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Peter Maccabe and 2070375 Ontario Inc. o/a McGill Health Services, with information as to where and how to pay the administrative penalties. Peter Maccabe and 2070375 Ontario Inc. o/a McGill Health Services must pay the administrative penalties no later than thirty (30) days after the date of the invoice.
If Peter Maccabe and 2070375 Ontario Inc. o/a McGill Health Services fail to pay the administrative penalties 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, March 24, 2022
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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