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REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 288.6 and 288.7
AND REGARDING Miroslaw Drag.
ORDER TO REVOKE LICENCE
On October 26, 2015, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal (“Notice”) to revoke the service provider licence of Miroslaw Drag (“Mr. Drag”) (licence #SP15372). The Superintendent is satisfied that Mr. Drag contravened the Act and Regulations made under it, by failing to submit his annual information return and failing to respond to multiple communications from the Superintendent, and accordingly is no longer suitable to hold a service provider licence.
On October 28, 2015, a copy of the Notice was sent to Mr. Drag, who had 15 days after the Notice was served to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with subsection 288.7(3) of the Act.
The Registrar of the Tribunal confirmed that, as of November 27, 2015, no request for a hearing has been received from Mr. Drag or anyone on his behalf.
Subsection 288.7(7) of the Act provides that the Superintendent may carry out the proposal to revoke the service provider licence when no hearing has been requested.
ORDER
Pursuant to subsection 288.7(7) of the Act, the service provider licence of Miroslaw Drag is hereby revoked.
DATED at Toronto, Ontario, December 4, 2015.
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Shonna Neil
Director, Licensing Branch
By Delegated Authority from:
The Superintendent of Financial Services