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 Jaswinder Bedi (“Mr. Bedi”)
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 $1000 on Mr. Bedi. The Superintendent had determined that Mr. Bedi did not fulfil his duty as a licensee to provide the Superintendent with requested information about his insurance business activities and therefore contravened section 442.3(1) of the Act.
Mr. Bedi requested a hearing in accordance with the Act. Subsequently, Mr. Bedi agreed to pay a $500 Administrative Monetary Penalty. The Superintendent and Mr. Bedi entered into Minutes of Settlement to resolve this matter and Mr. Bedi has undertaken to withdraw the request for hearing.
ORDER
An Administrative Monetary Penalty of $500 is imposed on Jaswinder Bedi
TAKE NOTICE THAT Mr. Bedi will be receiving shortly an invoice from Ontario Shared Services (“OSS”), a part of the Ministry of Government and Consumer Services, with information as to where and how to make the payment. Mr. Bedi must pay the administrative penalty no later than six (6) months after the date of the invoice issued by OSS.
If Mr. Bedi 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 the 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, ____________________, 2015.
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Anatol Monid
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from:
The Superintendent of Financial Services