IN THE MATTER OF the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 441, 441.2 and 441.3;
AND IN THE MATTER OF Daniel Emerson Tiffin (“Tiffin”).
ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY AND COMPLIANCE ORDER
Tiffin was formerly a licensed life insurance and accident & sickness insurance agent (licence # 93005788) under the Act from April 1, 1994, until February 7, 2019.
On January 25, 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 $50,000 on Tiffin for contravening section 2(1) of Ontario Regulation 347/04 by acting as an insurance agent without a licence and to impose a compliance order on Tiffin.
A Request for Hearing (Form 1) dated April 25, 2023, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with sections 441(3) and 441.3(5) of the Act respecting the Notice of Proposal.
The Tribunal held an electronic hearing from January 27, 2025 to January 31, 2025.
The Tribunal, in its Reasons for Decision, dated March 28, 2025 (the “Decision”), directed the Chief Executive Officer to carry out the Notice of Proposal without changes.
ORDER
An administrative penalty in the amount of $50,000 is hereby imposed on Daniel Emerson Tiffin, for the reasons set out in the Decision.
TAKE NOTICE THAT Financial Services Regulatory Authority of Ontario will deliver an invoice to Daniel Emerson Tiffin with information as to where and how to pay the administrative penalty. Daniel Emerson Tiffin must pay the administrative penalty no later than thirty (30) days after the date of this Order or as otherwise agreed on.
If Daniel Emerson Tiffin 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, April 2, 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
For the reasons set out in the Decision, it is hereby ordered that Daniel Emerson Tiffin immediately cease the following activities:
i. acting as an insurance agent in Ontario;
ii. collecting commissions, directly or indirectly, on any insurance business in Ontario; and
iii. engaging in the business of insurance in Ontario.
DATED at Toronto, Ontario, April 2, 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.