Superintendent
of surintendant des
Financial services
Services financiers
___________________________________________________________________________
REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended, in particular section 441.4;
AND REGARDING Jeremy Duc Quang Dang
ORDER IMPOSING SUMMARY ADMINISTRATIVE PENALTY
Jeremy Duc Quang Dang holds a life insurance and accident insurance agent licence, licence number 08104663.
In a letter dated July 13, 2016 sent to Mr. Dang, a delegate of the Superintendent of Financial Services (“Superintendent”) advised of the intention to impose a summary administrative penalty of $1,000 against Mr. Dang for failing to update his contact information within five days after the change is effective, as required by section 5.1 of Ontario Regulation 347/04.
Pursuant to subsection 441.4(2) of the Act, the Superintendent gave Mr. Dang the opportunity to make written submissions, which were to be received by the Superintendent’s delegate on or before August 12, 2016. Mr. Dang did not make any submissions but did update his information with the Financial Services Commission of Ontario.
Therefore, pursuant to subsection 441.4(1) of the Act and Item 27 of Schedule 3 of Ontario Regulation 408/12, the Superintendent orders a summary administrative penalty against Mr. Dang.
ORDER
A summary administrative penalty of $1,000 is imposed on Jeremy Duc Quang Dang.
TAKE NOTICE THAT Jeremy Duc Quang Dang 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. Jeremy Duc Quang Dang must pay the administrative penalty no later than 30 days after the date of the invoice.
If Jeremy Duc Quang Dang 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 on , 2016.
_____________________________
Izabel Scovino
Director, Market Regulation Branch
By Delegated Authority from the Superintendent of Financial Services