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REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended, in particular sections 392.5 and 407.1
AND REGARDING Mathiyalagan Sribalan
ORDER TO REFUSE TO RENEW LICENCE
On September 25, 2015, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal (“NOP”) to refuse to renew the life insurance and accident and sickness insurance agent licence of Mathiyalagan Sribalan.
The NOP was delivered to Mr. Sribalan on October 5, 2015.
Mr. Sribalan had 15 days after the Notice was given to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with section 407.1(3) of the Insurance Act (“Act”).
The Registrar of the Tribunal confirmed that no request for a hearing has been received from Mathiyalagan Sribalan or anyone on his behalf in respect of the proposal.
Subsection 401.1(4) of the Act provides that the Superintendent may carry out the proposal to refuse to renew a licence when no hearing has been requested.
ORDER
The application to renew the life insurance and accident and sickness insurance agent licence of Mathiyalagan Sribalan, dated September 17, 2013, is denied.
DATED at Toronto, Ontario, December 9, 2015.
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Shonna Neil
Director, Licensing & Market Conduct Division
By Delegated Authority from:
The Superintendent of Financial Services