IN THE MATTER OF the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”), in particular sections 392.5, 407.1, 441.2 and 441.3;
AND IN THE MATTER OF Daniel Lath (“Lath”).
ORDER REVOKING LICENCE AND ORDER IMPOSING ADMINISTRATIVE PENALTIES
Lath holds a life insurance and accident & sickness insurance agent licence (licence #17157779).
On December 20, 2024, 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 Revoke Licence and Impose Administrative Penalties on Lath for the following contraventions:
a) making false or misleading statement or representation in the solicitation or registration of insurance, contrary to section 17(c) of Ontario Regulation 347/04;
b) failing to obtain sufficient continuing education credits, contrary to section 14 of Ontario Regulation 347/04; and
c) directly or indirectly furnishing false, misleading, or incomplete information to FSRA, contrary to section 447(2)(a) of the Act.
The Notice of Proposal was delivered to Lath on January 6, 2025. Sections 407.1(3) and 441.3(5) of the Act provide that any person on whom a Notice of Proposal is delivered has fifteen (15) days after the Notice of Proposal is given to request a hearing by the Financial Services Tribunal (the “Tribunal”).
On January 22, 2025, the Registrar of the Tribunal confirmed that Lath did not request a hearing by the Tribunal in accordance with sections 407.1(3) and 441.3(5) of the Act respecting the Notice of Proposal. Therefore, pursuant to sections 407.1(7) and 441.3(7) of the Act, the Director makes the following orders.
ORDER
The life insurance and accident & sickness insurance agent licence (licence #17157779) issued to Daniel Lath is hereby revoked, for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, February 11, 2025
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
Si vous désirez recevoir cet avis en français, veuillez nous envoyer votre demande par courriel immédiatement à : contactcentre@fsrao.ca.
ORDER
Two administrative penalties in the total amount of $15,000 are hereby imposed on Daniel Lath, 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 Daniel Lath with information as to where and how to pay the administrative penalties. Daniel Lath must pay the administrative penalties no later than thirty (30) days after the date of this Order or as otherwise agreed on.
If Daniel Lath 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, February 11, 2025
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
Si vous désirez recevoir cet avis en français, veuillez nous envoyer votre demande par courriel immédiatement à : contactcentre@fsrao.ca.