IN THE MATTER OF the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”), in

particular sections 441.2 and 441.3;

AND IN THE MATTER OF Chris Oppong (“Oppong”).

ORDER IMPOSING ADMINISTRATIVE PENALTIES

Oppong is presently not licenced under the Act. Oppong was previously licensed from September 14, 2020, to September 13, 2022, as a Life Insurance and Accident and Sickness Agent (licence number #20184498).

On September 15, 2023, 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 administrative penalties in the total amount of $60,000 on Oppong for the following contraventions:

•         for using coercion and undue influence in order to secure insurance business, contrary to subsection 17(a) of Ontario Regulation 347/04;

•         for fraudulently procuring payments of premiums on insurance policies, contrary to section 395 of the Act; and

•         for reimbursing premiums, contrary to subsection 2(1)2 of Ontario Regulation 7/00 and subsection 7(1)(v) of the Unfair or Deceptive Acts and Practices Rule.

The Notice of Proposal was delivered to Oppong on December 4, 2023. Section 441.3(5) of the Act provides that any person on whom a Notice of Proposal is delivered has fifteen

(15) days after the Notice of Proposal is received to request a hearing by the Financial

Services Tribunal (the “Tribunal”).

On December 21, 2023, the Registrar of the Tribunal confirmed that Oppong did not request a hearing by the Tribunal in accordance with section 441.3(5) of the Act. Therefore, pursuant to section 441.3(7) of the Act, the Director makes the following order.

ORDER

Administrative penalties in the amount of $60,000 are hereby imposed on Chris Oppong, for the reasons set out in the Notice of Proposal.

TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Chris Oppong, with information as to where and how to pay the administrative penalty. Chris Oppong must pay the administrative penalties no later than thirty (30) days after the date of the invoice.

If Chris Oppong fails 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 December 21, 2023

Elissa Sinha

Director, Litigation & Enforcement

By delegated authority from the Chief Executive Officer

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