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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 Tharani Pirapakaran (“Ms. Pirapakaran”)
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 Ms. Pirapakaran for not providing information to the Superintendent as required by section 442.3(1)4 of the Act.
Ms. Pirapakaran requested a hearing by the Financial Services Tribunal (“Tribunal”). The hearing was held on May 14, 2015. On June 2, 2015, the Tribunal released its decision that the Superintendent carry out the Notice of Proposal for an Administrative Monetary Penalty against Ms. Pirapakaran in the amount of $1,000. Ms. Pirapakaran has not filed a notice of appeal respecting the Tribunal’s decision.
ORDER
An Administrative Monetary Penalty of $1,000 is imposed on Tharani Pirapakaran.
TAKE NOTICE THAT Ms. Pirapakaran must pay the administrative penalty no later than 30 days after being given notice of this Order. You will be receiving shortly an invoice from Ontario Shared Services, a part of the Ministry of Government Services, with information as to where and how to make the payment.
If you fail 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 the 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, July 9, 2015.
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Anatol Monid
Executive Director, Licensing & Market Conduct
By delegated authority from the
Superintendent of Financial Services