Financial Services Regulatory Authority of Ontario

Court File No. DC-24-00000640-00JR

ONTARIO

SUPERIOR COURT OF JUSTICE

DIVISIONAL COURT

THE HONOURABLE                                         )          FRIDAY, THE 27^TH  DAY, 

JUSTICE  NAKATSURU                                    )         OF JUNE, 2025

B E T W E E N:

CHIEF EXECUTIVE OFFICER OF THE FINANCIAL SERVICES REGULATORY AUTHORITY OF ONTARIO

Applicant

-and-

ANATOLII STOLIAR and KOSTYANTYN POSHTARENKO

Respondents

ORDER

      THIS APPLICATION, made by the Applicant, the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Applicant”), for an Order finding that the Respondents, Anatolii Stoliar (“Stoliar”) and Kostyantyn Poshtarenko (“Poshtarenko”) failed to comply with a summons and impose a fine for contempt was heard on June 26, 2025 by video conference.

ON READING the Application Record issued on October 24, 2024, and Supplementary Affidavit of Gabriel L. Stagno Izaguirre sworn May 1, 2025, and on hearing the submissions of the lawyers for the Applicant in attendance, Stoliar and Poshtarenko not attending despite being informed of the hearing date:

1.      THIS COURT ORDERS THAT Stoliar be fined $5,000.

2.      THIS COURT ORDERS THAT Poshtarenko be fined $5,000.

3.      THIS COURT ORDERS THAT Stoliar and Poshtarenko immediately contact the Applicant to arrange a suitable time and date for their examination. Once a time and date is set, Stoliar and Poshtarenko are to attend the Applicant’s offices at 25 Sheppard Avenue West, Suite 100, Toronto, to give such information as the Applicant or their designate considers relevant to determining whether a person or entity is complying with the requirement established under the Insurance Act.

4.      THIS COURT ORDERS THAT in addition to the set fine above, Mr. Stoliar and Mr. Poshtarenko be fined $1,000 a day from the time of this order is served until such time they have completed their examination as required by the Applicant. The total amount of the additional daily fine is capped at a total of $20,000 per each man.

THIS ORDER BEARS INTEREST at the rate of 5% per year commencing on June 27, 2025.

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Registrar