Superintendent
of surintendant des
Financial services
Services financiers
___________________________________________________________________________
REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 441.1, 441.2 and 441.3 and 392.2(6) (formerly section 393(23))
AND REGARDING Mr. Tom John Bothwell (“Mr. Bothwell”), a licensed Life and Accident and Sickness Insurance Agent (#01068179)
ORDER TO IMPOSE AN ADMINISTRATIVE
MONETARY PENALTY
Mr. Bothwell is a licensed life insurance and accident and sickness insurance agent under the Act.
On June 17, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to impose an Administrative Monetary Penalty in the amount of $2,720 on Mr. Bothwell. The Superintendent had determined that Mr. Bothwell had contravened section 392.2(6) (formerly section 393(23)) of the Act by acting as an insurance agent without a licence.
Mr. Bothwell requested a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with the Act. A hearing before the Tribunal was held on December 10, 2014. By decision dated February 10, 2015, the Tribunal directed the Superintendent to carry out the proposal to impose an administrative monetary penalty but with a change in the amount of the penalty from $2,720 to $1,723.
ORDER
An Administrative Monetary Penalty in the amount of $1,723 is imposed on Mr. Tom John Bothwell.
TAKE NOTICE THAT Mr. Bothwell will be receiving shortly an invoice from Ontario Shared Services, a part of the Ministry of Government and Consumer Services, with information as to where and how to make the payment. Mr. Bothwell must pay the administrative monetary penalty no later than 30 days after the date of the invoice.
If Mr. Bothwell fails to pay the administrative monetary penalty in accordance with the terms of this Order, the Superintendent may file the Order with the Superior Court of Justice and this Order may be enforced as if it were an order of the court. An administrative monetary 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 , 2015.
_____________________________
Anatol Monid
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from:
The Superintendent of Financial Services