Superintendent
of Surintendant des
Financial services
Services financiers
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REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 441.1, 441.2 and 441.3
AND REGARDING Romeo Arcilla Miralles
ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY
Romeo Arcilla Miralles (“Mr. Miralles”) is a licensed life insurance and accident and sickness insurance agent under the Act (licence #11118063).
On June 2, 2017, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Monetary Penalty in the amount of $1,400 on Mr. Miralles. The Superintendent had determined that Mr. Miralles failed to have errors and omissions insurance during the period from April 30, 2016 to January 26, 2017, and therefore Mr. Miralles contravened section 13(a) of Regulation 347/04 made under the Act.
The Notice of Proposal was sent by registered mail on June 6, 2017, and Mr. Miralles had until June 26, 2017 to file a request for hearing with the Financial Services Tribunal.
On June 28, 2017, the Registrar of the Tribunal confirmed that neither Mr. Miralles nor anyone on his behalf requested a hearing in writing.
ORDER
An Administrative Monetary Penalty of $1,400 is imposed on Romeo Arcilla Miralles.
TAKE NOTICE THAT you, Mr. Miralles, will receive 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.
FURTHER, TAKE NOTICE THAT you, Mr. Miralles, must pay the administrative penalty no later than 30 days from the date of the invoice. If you fail 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, , 2017
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Anatol Monid
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from the Superintendent of Financial Services