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IN THE MATTER OF the Insurance Act, RSO 1990, c. I.8, as amended (the “Act”), in particular sections 441.2 and 441.3;
AND IN THE MATTER OF Travis Amosco Cornico (the “Licensee”).
ORDER IMPOSING AN ADMINISTRATIVE PENALTY
The Licensee is licensed as a Life Insurance Agent (licence # 20187122) under the Act.
On February 16, 2024, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Senior Manager, Market Conduct Action Team (the “Senior Manager) issued a Notice of Proposal to impose an administrative penalty in the amount of $1,500 on the Licensee for failure to comply with the Act.
The Notice of Proposal was delivered to the Licensee on February 20, 2024. 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”).
The Senior Manager and the Licensee have resolved the matter without a hearing and on consent.
An administrative penalty in the amount of $1,500 is hereby imposed on Travis Amosco Cornico.
TAKE NOTICE THAT Travis Amosco Cornico will be receiving an invoice from the Financial Services Regulatory Authority of Ontario with information as to where and how to make the payment. Travis Amosco Cornico must pay the Administrative Penalty no later than 30 days after the date of the invoice.
If Travis Amosco Cornico 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 an order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario, , [Year].
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Yovanka McBean
Senior Manager, Market Conduct Action Team
By delegated authority from the Chief Executive Officer
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