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 Rui Yang
ADMINISTRATIVE PENALTY ORDER
On July 25, 2014, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to impose an administrative monetary penalty of $1,000 on Rui Yang.
Mr. Yang initially requested a hearing before the Financial Services Tribunal in accordance with the Act on August 8, 2014. On August 6, 2015, Mr. Yang withdrew his request for a hearing.
Section 441.3(7) of the Act provides that the Superintendent may carry out the proposal to impose an administrative monetary penalty where no hearing has been requested.
ORDER
An administrative penalty in the amount of $1,000 is imposed on Rui Yang pursuant to section 39 of the Act.
TAKE NOTICE THAT Mr. Yang 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. Yang must pay the administrative penalty no later than 30 days after the date of the invoice.
If Mr. Yang 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 14, 2015
_____________________________
Anatol Monid, Executive Director
Licensing and Market Conduct Division
By delegated authority from
Superintendent of Financial Services