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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 section 441.4;
AND REGARDING TIMOTHY ROULSTON
ORDER IMPOSING SUMMARY ADMINISTRATIVE PENALTY
TIMOTHY ROULSTON holds a life insurance and accident and sickness insurance agent licence, licence number 09110430.
In a letter dated November 10th, 2017 sent to Timothy Roulston, a delegate of the Superintendent of Financial Services (“Superintendent”) advised of the intention to impose a summary administrative penalty of $3,000 against Timothy Roulston for failing to disclose in writing, the names of all the insurers that the agent represents to every prospective purchaser, contrary to section 15(1) of Ontario Regulation 347/04, and a penalty of $1000 against Timothy Roulston for failing to obtain a signed statement from the applicant contrary to section 2(2) of Ontario Regulation 674.
Pursuant to subsection 441.4(2) of the Act, the Superintendent provided Timothy Roulston with the opportunity to make written submissions, which were to be received by the Superintendent’s delegate on or before December 11th 2017. Timothy Roulston did not provide written submissions.
Therefore, pursuant to subsection 441.4(1) of the Act and Item 30 of Schedule 3 of Ontario Regulation 408/12, the Superintendent orders a summary administrative penalty against Timothy Roulston.
ORDER
A summary administrative penalty of $4,000 is imposed on TIMOTHY ROULSTON.
TAKE NOTICE THAT TIMOTHY ROULSTON 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 Roulston must pay the administrative penalty no later than 30 days after the date of the invoice.
If Timothy Roulston 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 , 2018.
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Heather Driver
Director, Licensing Branch
By Delegated Authority from the Superintendent of Financial Services