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Superintendent of Financial Services |
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surintendant des services financiers |
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REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular section 441.4;
AND REGARDING GANESH PARIDA
ORDER IMPOSING SUMMARY ADMINISTRATIVE PENALTY
GANESH PARIDA holds a life insurance and accident insurance agent licence, licence number 14135151.
In a letter dated June 5th, 2017 sent to GANESH PARIDA, a delegate of the Superintendent of Financial Services (“Superintendent”) advised of the intention to impose a summary administrative penalty of $1,000 against GANESH PARIDA for failing to complete at least 30 hours every two years of continuing education acceptable to the Superintendent in respect of life insurance, contrary to section 14 of Ontario Regulation 347/04.
Pursuant to subsection 441.4(2) of the Act, the Superintendent provided GANESH PARIDA with the opportunity to make written submissions, which were to be received by the Superintendent’s delegate on or before July 5th, 2017. GANESH PARIDA did not provide a written submission by the deadline.
Therefore, pursuant to subsection 441.4(1) of the Act and Item 30 of Schedule 3 of Ontario Regulation 408/12, the Superintendent orders a summary administrative penalty against GANESH PARIDA.
ORDER
A summary administrative penalty of $1,000 is imposed on GANESH PARIDA.
TAKE NOTICE THAT GANESH PARIDA 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. GANESH PARIDA must pay the administrative penalty no later than 30 days after the date of the invoice.
If GANESH PARIDA 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 , 2017.
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Heather Driver
Director, Licensing Branch
Licensing and Market Conduct Division
By Delegated Authority from the Superintendent of Financial Services