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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 288.5 and 288.7;
AND IN THE MATTER OF YAN JIANG
ORDER TO REFUSE TO ISSUE LICENCE
On October 23, 2023, Yan Jiang (“Jiang”) submitted an application for a service provider’s licence under the Act.
On November 29, 2024, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Licensing (the “Director”) issued a Notice of Proposal to refuse to issue a service provider’s licence to Jiang.
The Notice of Proposal was delivered to Jiang on December 4, 2024. Section 288.7(3) 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 January 6, 2025, the Registrar of the Tribunal confirmed that Jiang did not request a hearing by the Tribunal in accordance with section 288.7(3) of the Act respecting the Notice of Proposal. Therefore, pursuant to section 288.7(7) of the Act, the Director makes the following order.
ORDER
The application to issue a service provider’s licence is hereby refused for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario this day of January 2025.
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Yovanka McBean
Director, Licensing
By delegated authority from the Chief Executive Officer
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