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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 sections 392.4 and 407.1
AND REGARDING Krishan Rajaratnam
ORDER TO REFUSE LICENCE APPLICATION
On November 6, 2017, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Refuse Application (“NOP”) in respect of an application for an insurance agent licence by Krishan Rajaratnam (“Mr. Rajaratnam”).
On November 27, 2017, Mr. Rajaratnam filed a Request for Hearing with the Financial Services Tribunal (“Tribunal”).
On April 23, 2018, the Tribunal issued a Notice of Intention to Dismiss in this matter, due to Mr. Rajaratnam’s failure to take any steps to further the proceeding for an undue period. Mr. Rajaratnam did not make submissions in respect of the Notice of Intention to Dismiss.
On June 5, 2018, the Tribunal ordered the proceeding, initiated by Mr. Rajaratnam’s Request for Hearing dated November 17, 2017, be dismissed without a hearing.
Pursuant to subsection 407.1(7) of the Act, the Superintendent may carry out the proposal.
ORDER
The application for an insurance agent licence of Krishan Rajaratnam is hereby refused.
DATED at Toronto, Ontario, , 2018.
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Heather
Driver
Director, Licensing Branch, Licensing and Market Conduct Division
By
delegated Authority from the
Superintendent of Financial Services