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 Nestor Lubay
ADMINISTRATIVE PENALTY ORDER
On July 25, 2014, the Superintendent of Financial Services (“Superintendent”) issued a notice of proposal to impose an administrative penalty of $1000 on Nestor Lubay. The Superintendent alleged that Mr. Lubay contravened or failed to comply with section 442.3 of the Act by failing to provide information about activities related to the business of insurance to the Superintendent upon request.
Mr. Lubay requested a hearing before the
Financial Services Tribunal in accordance with the Act, and a hearing was held
on July 14, 2015. In a decision dated
July 23, 2015, the Tribunal directed the Superintendent to impose an
administrative penalty of $1000 on Mr. Lubay.
ORDER
An administrative penalty in the amount of $1000 is imposed on Nestor Lubay pursuant to section 441.3(6) of the Act.
TAKE NOTICE THAT Mr. Lubay 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. Lubay must pay the administrative penalty no later than 30 days after the date of the invoice.
If Mr. Lubay fails to pay the administrative 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 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, August 5, 2015
_____________________________
Anatol Monid, Executive Director
Licensing and Market Conduct Division
By delegated authority from
Superintendent of Financial Services