Superintendent
of Surintendant des
Financial services
Services financiers
___________________________________________________________________________
REGARDING the Insurance Act (the “Act”), R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 441.1, 441.2 and 441.3
AND REGARDING Marc J. Monforton
ORDER TO IMPOSE AN ADMINISTRATIVE
MONETARY PENALTY
Marc J. Monforton (“Mr. Monforton”) is a licensed Life Insurance and Accident and Sickness Insurance agent under the Act (licence number 93005783).
On September 25, 2017, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Monetary Penalty in the amount of $1,750 on Mr. Monforton by regular and registered mail.
Mr. Monforton 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.
On October 19, 2017, the Registrar of the Tribunal confirmed that Mr. Monforton 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 hereby imposed on Marc J. Monforton.
TAKE NOTICE THAT Mr. Monforton 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. Monforton must pay the administrative penalty no later than thirty (30) days after the date of the invoice.
If Mr. Monforton fails to pay the administrative monetary penalty in accordance with the terms of this Order, the Superintendent may file the Order with the Superior Court of Justice and this Order may be enforced as if it were an order of the court. An administrative monetary 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