Superintendent
of surintendant des
Financial services
Services financiers
___________________________________________________________________________
REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended, in particular sections 441.1, 441.2 and 441.3
AND REGARDING Square One Insurance Services Inc.
ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY
On March 17, 2016, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal (“Notice”) to impose an administrative penalty in the amount of $3,500 on Square One Insurance Services Inc. (“Square One”).
On March 29, 2016, the Notice was given to Square One who had 15 days after service of the Notice to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with subsections 441.3(2) and 441.3(5) of the Act.
The Registrar of the Tribunal has confirmed that, as of April 14, 2016, no request for a hearing has been received from or on behalf of Square One in respect of the proposal to impose an administrative penalty.
Subsection 441.3(7) of the Act states that the Superintendent may carry out the proposal to impose an administrative penalty when no hearing has been requested.
ORDER
An administrative penalty of $3,500 is imposed on Square One Insurance Services Inc.
TAKE NOTICE THAT Square One Insurance Services Inc. will be receiving shortly 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. Square One Insurance Services Inc. must pay the administrative penalty no later than 30 days after the date of the invoice.
If Square One Insurance Services Inc. 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, , 2016.
_________________________________
Anatol Monid
Executive Director, Licensing and Market Conduct Division
By delegated authority from
The Superintendent of Financial Services