IN THE MATTER OF the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”), in particular section 441.4;
AND IN THE MATTER OF Ines Mundt
ORDER IMPOSING SUMMARY ADMINISTRATIVE PENALTY
Ines Mundt is licensed as a life insurance agent (licence # 05087162) under the Act.
The Senior Manager, Life & Health Insurance Agents (the “Senior Manager”) is satisfied that Ines Mundt failed to complete the required 30 hours of continuing education credits, contrary to section 14 of Ontario Regulation 347/04.
In a letter dated March 28, 2022, Ines Mundt was advised that pursuant to section 441.4(1) of the Act, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Senior Manager intends to impose an administrative penalty in the amount of $1,000 on Ines Mundt for contravening section 14 of Ontario Regulation 347/04 (the “Notice Letter”). The Notice Letter provided that Ines Mundt had an opportunity to make written submissions with respect to the imposition of the administrative penalty by April 12, 2022.
Ines Mundt did not make written submissions.
Pursuant to section 441.4(1) of the Act, section 14 of Ontario Regulation 347/04, and by delegated authority from the Chief Executive Officer, the Senior Manager makes the following order:
ORDER
A summary administrative penalty in the amount of $1,000 is hereby imposed on Ines Mundt.
TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Ines Mundt, with information as to where and how to pay the administrative penalty. Ines Mundt must pay the administrative penalty no later than thirty (30) days after the date of the invoice.
If Ines Mundt 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, , 2022.
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Robert Prior
Senior Manager, Life & Health Insurance Agents
By delegated authority from the Chief Executive Officer
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