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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 HERMIE MARQUEZ
ORDER IMPOSING SUMMARY ADMINISTRATIVE PENALTY
Hermie Marquez holds a life insurance and accident and sickness insurance agent licence, licence number 02070547.
In a letter dated June 16th 2017 sent to Hermie Marquez, a delegate of the Superintendent of Financial Services (“Superintendent”) advised of the intention to impose a summary administrative penalty of $3,000 against Hermie Marquez 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.
Pursuant to subsection 441.4(2) of the Act, the Superintendent provided Hermie Marquez with the opportunity to make written submissions, which were to be received by the Superintendent’s delegate on or before July 17th 2017. Hermie Marquez did provide written submissions which were taken into account in the decision to impose a summary administrative monetary penalty.
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 Hermie Marquez.
ORDER
A summary administrative penalty of $3, 000 is imposed on HERMIE MARQUEZ.
TAKE NOTICE THAT HERMIE MARQUEZ 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. Hermie Marquez must pay the administrative penalty no later than 30 days after the date of the invoice.
If Hermie Marquez 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 June 22, 2018.
“Original signed by Heather Driver”
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Heather Driver
Director, Licensing Branch
By Delegated Authority from the Superintendent of Financial Services