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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 288.6 and 288.7;
AND REGARDING Proactive1 Healthcare Ltd. (“Proactive1”).
ORDER TO REVOKE LICENCE
Proactive1 is a licensed service provider under the Act (licence # SP14069).
Hyun (Paula) Joung Chung (“Ms. Chung”) is registered with the Financial Services Commission of Ontario (“FSCO”) as the Principal Representative of Proactive1.
As of November 19, 2018, pursuant to subsection 288.6(3) of the Act, Proactive1’s service provider licence was suspended for failing to pay the Annual Regulatory Fee for service providers imposed under section 121.1 of the Act.
On December 6, 2018, pursuant to sections 288.6 and 288.7 of the Act the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Revoke (the “Notice”) the service provider licence of Proactive1 for contravening and failing to comply with the Act, and because the Superintendent has reasonable grounds to believe that Proactive1 is no longer suitable to be licensed having regard to its business systems and practices and the management of its operations.
On December 6, 2018, the Notice was served on Proactive1 and Ms. Chung by regular and registered mail. Proactive1 and Ms. Chung had 15 days after the Notice was given to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with subsection 288.7(3) of the Act.
On January 2, 2019, the Registrar of the Tribunal confirmed that no request for a hearing was filed by Proactive1or Ms. Chung.
Subsection 288.7(7) of the Act provides that the Superintendent may carry out the proposal to revoke a licence when no hearing has been requested.
ORDER
The service provider licence of Proactive1 Healthcare Ltd. is hereby revoked.
DATED at Toronto, Ontario, , 2019.
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Anatol Monid
Executive Director, Licensing and Market Conduct Division
By delegated authority from
the Superintendent of Financial Services