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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, in particular sections 441.1, 441.2 and 441.3
AND REGARDING Ngan Truong
ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY
Ngan Truong (“Ms. Truong”) is licensed under the Insurance Act (“Act”) as a Life Insurance and Accident & Sickness Insurance agent (licence number 02071399).
On April 11, 2018, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Adminstrative Penalty in the amount of $1,750 on Ms. Truong for providing the Financial Services Commission of Ontario with false, misleading or incomplete information on her licence renewal application, contrary to clause 447(2)(a) of the Act.
On May 3, 2018, the Registrar of the Financial Services Tribunal confirmed that Ms. Truong did not file a request for hearing in accordance with the Act.
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 Ngan Truong.
TAKE NOTICE THAT Ms. Truong 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. Ms. Truong must pay the administrative penalty no later than 30 days after the date of the invoice.
If Ms. Truong 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 22nd day of May, 2018.
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Anatol Monid
Executive Director
Licensing and Market Conduct Division
By Delegated Authority from
The Superintendent of Financial Services