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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 Tejpal Mann (“Mann”).
ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY
Mann was formerly licensed as a life insurance and accident & sickness insurance agent (licence #16152598) under the Act.
On April 24, 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 an administrative penalty in the amount of $20,000 on Mann for directly or indirectly paying or allowing compensation to be paid to a non-licensee, contrary to section 403 of the Act.
The Notice of Proposal was delivered Mann on April 26, 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”).
A Request for Hearing (Form 1) dated May 8, 2023, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 441.3(5) of the Act respecting the Notice of Proposal.
The Tribunal scheduled an electronic hearing for September 18, 2024. The Applicant did not attend.
The Tribunal, in its Reasons for Decision dated October 8, 2024, ordered that the Request for Hearing filed by the Applicant be dismissed without notice to the Applicant and ordered the Chief Executive Officer to carry out the Notice of Proposal.
ORDER
An administrative penalty in the amount of $20,000 is hereby imposed on Tejpal Mann, for the reasons set out in the Notice of Proposal.
TAKE NOTICE THAT Financial Services Regulatory Authority of Ontario will deliver an invoice to Tejpal Mann with information as to where and how to pay the administrative penalty. Tejpal Mann must pay the administrative penalty no later than thirty (30) days after the date of this Order or as otherwise agreed on.
If Tejpal Mann 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,
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Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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