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 Mr. John P. Sanchez
ADMINISTRATIVE PENALTY ORDER
To: Mr. John P. Sanchez
On
June 12, 2017, the Superintendent of Financial Services (the “Superintendent”)
issued a Notice of Proposal (the “Notice”) to impose an administrative penalty
in the amount of $1,750 on Mr. Sanchez. The Superintendent had determined that Mr.
Sanchez furnished false, misleading, or incomplete information to the Financial
Services Commission of Ontario on his license renewal application, contrary to
subsection 447(2)(a) of the Insurance Act (the “Act”).
The Superintendent sent the Notice to Mr. Sanchez by mail and registered mail
on June 12, 2017. The Notice was deemed served on Mr. Sanchez on June 19, 2017,
in accordance with subsection 33(3) of the Act.
Mr. Sanchez had fifteen (15) days after the Notice was given to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with subsection 441.3(5) of the Act.
Mr. Sanchez did not request a hearing.
Subsection 441.3(7) of the Act provides that the Superintendent may carry out the proposal to impose an administrative penalty when no hearing has been requested.
ORDER
An administrative penalty in the amount of $1,750 is imposed on Mr. John P. Sanchez.
TAKE NOTICE THAT Mr. Sanchez 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. Mr. Sanchez must pay the administrative penalty no later than thirty (30) days after the date of the invoice.
If Mr. Sanchez 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, _________________________, 2017.
_______________________________________
Anatol
Monid
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from:
The Superintendent of Financial Services