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 REGARDING Hardip Sidhu
ORDER TO IMPOSE AN ADMINISTRATIVE MONETARY PENALTY
On July 25, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to impose an administrative monetary penalty in the amount of $1,000 on Mr. Hardip Sidhu.
The Superintendent had determined that Mr. Sidhu contravened or did not comply with a requirement under the Act, namely the requirement to give the Superintendent information about activities related to the business of a person who holds or held a license under this Act pursuant to Section 442.3(1)4 of the Act.
Mr. Sidhu requested a hearing before the Financial Services Tribunal. However, on January 12, 2015, Mr. Sidhu informed the Tribunal that he wished to withdraw his request.
Section 441.3(7) the Act provides that the Superintendent may carry out the proposal to impose an administrative monetary penalty when no hearing has been requested.
ORDER
An administrative monetary penalty of $1,000 is imposed on Mr. Hardip Sidhu.
TAKE NOTICE THAT Mr. Sidhu will receive 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. Sidhu must pay the administrative monetary penalty no later than 30 days after the date of the invoice.
If Mr. Sidhu
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