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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 392.5, 392.7 and 407.1
AND REGARDING Rakesh Gautambhai Pathak
ORDER TO REFUSE SURRENDER AND REVOKE
On August 10, 2018, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Refuse Surrender and Revoke the insurance agent licence of Rakesh Gautambhai Pathak (“Mr. Pathak”). The Notice of Proposal to Refuse Surrender and Revoke Mr. Pathak’s licence (the “Notice”) was sent by mail and registered mail to Mr. Pathak’s address on or around August 15, 2018. Canada Post records indicate that the Notice sent by registered mail was received on August 16, 2018.
Mr. Pathak had 15 days after service of the Notice to request a hearing before the Financial Services Tribunal (the “Tribunal”) in accordance with subsection 407.1(3) of the Insurance Act (the “Act”).
On September 11, 2018, the Registrar of the Tribunal confirmed that no request for a hearing has been received from Mr. Pathak or anyone on their behalf in respect of the proposal to refuse surrender and revoke the insurance agent licence.
Subsection 407.1(7) of the Act provides that the Superintendent may carry out the proposal when no hearing has been requested.
ORDER
The surrender of Rakesh Gautambhai Pathak’s insurance agent licence (#08103957) is refused and Mr. Pathak’s licence is hereby revoked.
DATED at Toronto, Ontario, , 2018.
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Heather Driver
Director, Licensing Branch
By delegated Authority from the
Superintendent of Financial Services