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 Roger Richard
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 Roger Richard (“Mr. Richard”). The Superintendent determined that Mr. Richard contravened or did not comply with a requirement under the Insurance Act (the “Act”), namely the requirement to give the Superintendent information about activities related to the business of a person who holds or held a licence under the Act, pursuant to section 442.3(1)[4] of the Act.
Mr. Richard requested a hearing before the Financial Services Tribunal on August 19, 2014, but withdrew his hearing request on July 21, 2015 and, accordingly, there is no longer a request for hearing.
ORDER
An Administrative Monetary Penalty of $1,000 is imposed on Roger Richard, pursuant to section 441.3(7) of the Act.
TAKE NOTICE THAT Mr. Richard 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. Richard must pay the administrative monetary penalty no later than 30 days from the date of the invoice.
If Mr. Richard 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 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, August 7, 2015.
______________________________
Anatol Monid
Executive Director
Licensing and Market Conduct
By delegated authority from the
Superintendent of Financial Services