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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 441.1, 441.2, and 441.3
AND REGARDING Timothy W. Townson
ORDER TO IMPOSE ADMINISTRATIVE PENALTY
On September 26, 2016, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal proposing to impose an administrative penalty of $20,000.00 on Timothy W. Townson (“Mr. Townson”).
Mr. Townson requested a hearing by the Financial Services Tribunal (the “Tribunal”). The Tribunal held a pre-hearing conference on February 2, 2017 and continued the pre-hearing conference on March 8, 2017 and May 31, 2017. The hearing was scheduled for November 3, 2017 but was adjourned to a further continuation of the pre-hearing conference on February 2, 2018. The pre-hearing conference was adjourned to April 12, 2018. Mr. Townson did not attend or participate in the April 12, 2018 pre-hearing conference despite notice from the Tribunal.
On April 12, 2018, the Tribunal issued a Notice of Intention to Dismiss the proceeding without a hearing (the “Notice”) pursuant to Rule 34.01 (now Rule 35.01) of the Rules of Practice and Procedure for Proceedings before the Financial Services Tribunal unless reasonable cause was shown within 30 days that the hearing should proceed.
The Superintendent filed two Affidavits in response to the Notice. Mr. Townson did not file anything in response to the Notice.
On May 25, 2018, the Tribunal issued Reasons for Decision pursuant to the Notice and ordered that the proceeding be dismissed without further notice.
ORDER
An administrative penalty in the amount of $20,000 is hereby ordered against Timothy W. Townson.
TAKE NOTICE THAT Timothy W. Townson 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. Timothy W.
Townson must pay the administrative monetary penalty within 30 days from the date of the invoice.
If you fail 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 the 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, July 4, 2018.
“Original signed by Anatol Monid”
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Anatol Monid
Executive Director, Licensing & Market Conduct Division
By Delegated Authority from
The Superintendent of Financial Services