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 288.6 and 288.7
AND REGARDING 2187593 Ontario Ltd.
ORDER TO REVOKE LICENCE
On September 10, 2015, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal (“Notice”) to revoke the service provider licence of 2187593 Ontario Ltd (licence #SP15501). The Superintendent is satisfied that 2187593 Ontario Ltd. failed to submit its annual information return when required, and therefore contravened section 21 of Ontario Regulation 90/14. The Superintendent is also satisfied that 2187593 Ontario Ltd. failed to respond to multiple communications from the staff of the Financial Services Commission of Ontario and therefore contravened subsection 442.1(2) of the Act. Accordingly, the Superintendent is of the opinion that 2187593 Ontario Ltd. is no longer suitable to hold a service provider licence.
The Notice was served on 2187593 Ontario Ltd. by registered mail on October 13, 2015. 2187593 Ontario Ltd. had 15 days after the Notice was given 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 October 29, 2015, no request for a hearing has been received from 2187593 Ontario Ltd. or anyone on its 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 2187593 Ontario Ltd. is hereby revoked.
DATED at Toronto, Ontario, 2016.
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Anatol Monid
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from:
The Superintendent of Financial Services