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 Steven T. Bott
ADMINISTRATIVE PENALTY ORDER
Steven T. Bott held a life insurance and accident and sickness insurance agent licence issued to him under the terms of the Insurance Act (the “Act”). His licence number was #95030447. His licence expired on May 21, 2017.
On June 26, 2017, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Penalty (the “Notice”) in the amount of $1,750 on Mr. Bott for contravening s. 447(2)(a) of the Act by furnishing false, misleading or incomplete information to the Financial Services Commission of Ontario.
On June 29, 2017, the Notice was sent to Mr. Bott by regular and registered mail. Mr. Bott had 15 days from the day the Notice was given to file a Request for Hearing with the Financial Services Tribunal, pursuant to subsection 441.3(5) of the Act.
On July 21, 2017, the Registrar of the Tribunal confirmed that no Request for Hearing was filed by Mr. Bott or anyone on his behalf.
Subsection 441.3(7) of the Act provides that the Superintendent may carry out the proposal when no hearing has been requested.
ORDER
Pursuant to section 441.3 of the Act, an administrative penalty of $1,750 is imposed on Steven T. Bott.
TAKE NOTICE THAT Steven T. Bott will shortly be receiving 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. Steven T. Bott must pay the administrative penalty no later than six (6) months after the date of this Order.
If Steven T. Bott 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 the day of , 2017.
_____________________________
Anatol Monid
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from
The Superintendent of Financial Services