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Superintendent of Financial Services |
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surintendant des services financiers |
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REGARDING the Insurance Act, RSO 1990, c I-8, as amended (the “Act”), particularly Part XIV, in particular sections 393(9) to 393(11)
AND REGARDING a hearing concerning the suspension or revocation of the life insurance and accident and sickness insurance agent licence of Glendon Lancaster
ORDER
I hereby order the following suspension and conditions on the life insurance and accident and sickness insurance agent licence of Mr. Glendon Lancaster:
- Mr. Lancaster’s licence as a life insurance and accident and sickness insurance agent be suspended for a period of four months commencing June 1, 2015.
- Mr. Lancaster’s licence as an insurance agent shall remain suspended until the later of the completion of the period of suspension ordered under paragraph one and the date Mr. Lancaster obtains the written approval of the Superintendent of a written undertaking from another agent (the Supervising Agent), who is licensed in Ontario and acceptable to the Superintendent, and who undertakes for a period of 18 months, commencing on the day following the conclusion of the period of suspension of Mr Lancaster’s licence to:
a. supervise Mr. Lancaster and co-sign all applications, as evidence of joint responsibility for the insurance business transacted by Mr. Lancaster;
b. report to the Superintendent immediately any contraventions of the Insurance Act and its regulations by Mr. Lancaster;
c. report to the Superintendent immediately any issues related to Mr. Lancaster that appear to adversely impact his ability to act as an insurance agent; and
d. prepare promptly a report regarding the insurance business of Mr. Lancaster, his compliance with this order and any issues that may adversely impact his ability to act as an insurance agent for each six month period during the period of supervision (the Agent Report).
- Mr. Lancaster shall file with the Superintendent the Agent Report within 30 days of the completion of each six month period to which it relates.
- Mr. Lancaster shall also file with the Superintendent a report from a physician describing the state of any health and addiction issues relevant to his ability to perform the duties of his occupation as an agent, including his treatment and medication program, if any, and his compliance therewith, within 30 days of the completion of each six month period to which it relates.
- Mr. Lancaster shall notify the Superintendent forthwith if the Supervising Agent is no longer willing to accept these responsibilities. Mr. Lancaster shall not act as an insurance agent if he does not have a Supervising Agent.
- Mr. Lancaster shall notify the Superintendent if he wishes to substitute the Supervising Agent and shall not act as an insurance agent until such time as he has received the written approval of the Superintendent of a substitute Supervising Agent.
Any approvals by the Superintendent required by this order shall not be unreasonably withheld.
DATED at Toronto, Ontario, 2015.
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Anatol Monid
Executive Director, Licensing & Market Conduct Division
By Delegated Authority from:
The Superintendent of Financial Services