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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 Dwight E. Freed
ADMINISTRATIVE PENALTY ORDER
Dwight E. Freed (“Mr. Freed”) holds a life insurance and accident & sickness insurance agent licence issued under the terms of the Insurance Act (the “Act”). Mr. Freed’s licence number is #96039610.
On January 15, 2018, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Impose an Administrative Penalty in the amount of $5,633 on Mr. Freed for acting as an insurance agent in Ontario without a valid licence, in contravention of subsection 392.2(6) of the Act and subsection 2(1) of Ontario Regulation 347/04.
Mr. Freed requested a hearing before the Financial Services Tribunal on January 23, 2018. Mr. Freed subsequently withdrew his request for hearing before the Financial Services Tribunal on August 3, 2018.
Subsection 441.3(7) of the Act provides that the Superintendent may carry out the proposal when no hearing has been requested. As the request for hearing has been withdrawn, no hearing is currently requested before the Financial Services Tribunal.
ORDER
Pursuant to section 441.3 of the Act, an administrative penalty of $5,633 is imposed on Dwight E. Freed.
TAKE NOTICE THAT Mr. Freed will shortly be receiving 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. Mr. Freed must pay the administrative penalty no later than 30 days after the date of this Order.
If Mr. Freed 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 day of , 2018.
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Anatol Monid
Executive Director, Licensing and Market Conduct Division
By Delegated Authority from
The Superintendent of Financial Services