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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 392.4 and 407.1
AND REGARDING Gowthaman Balachandran
ORDER TO REFUSE LICENCE APPLICATION
On October 24, 2017, Gowthaman Balachandran submitted an application for a Life Insurance and Accident and Sickness Insurance Agent Licence under the Insurance Act (the “Act”).
On September 6, 2018, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to refuse Mr. Balachandran’s licence application. On September 10, 2018, the Notice of Proposal was sent by mail and registered mail to Mr. Balachandran.
Mr. Balachandran had 15 days after being given the Notice of Proposal to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with subsection 407.1(5) of the Insurance Act (the “Act”).
On November 22, 2018, the Registrar of the Tribunal confirmed that no request for a hearing has been received from Mr. Balachandran.
Subsection 407.1(7) of the Act provides that the Superintendent may carry out the proposal to refuse to issue the licence when no hearing has been requested.
ORDER
The application of Gowthaman Balachandran for an Insurance Agent Licence, dated October 24, 2017, is hereby refused.
DATED at Toronto, Ontario, , 2019
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Heather Driver
Director, Licensing Branch
By Delegated Authority from:
The Superintendent of Financial Services