An order that is made regarding a licence holder reflects a situation at a particular point in time. The status of a licence holder can change. Readers should check the current status of a person’s or entity’s licence on the Licensing Link section of FSCO’s website. Readers may also wish to contact the person or entity directly to get additional information or clarification about the events that resulted in the order.
SUPERINTENDENT OF FINANCIAL SERVICES I Regarding the life insurance agent's licence of : Cary Mitchell I AND the Insurance Act, R.S.O. 1990, c, 1.8, as amended, particularly section 393
ORDER Pursuant to a Minutes of Senlement signed by Cary Mitchell which is filed , I order that life insurance..a I gent a 's licence #9300573 1 of Cary Mitchell be revoked ";9mffieneilig onJ IL , 2010. VI: Dated at the City ofl'Toronto this { 'I- day of January, 2010 ( ." . Grant Swanson Executive Director, Licensing and Market Conduct Division, by Delegated Authority from the Superintendent of Financial Services
SCHE DULE 'A' I. Cary Mitchell the agent ) has been a licensed life insurance agent since October 01. 1993. His current lifelicence, #93005731, was issued on October 07. 2008 with an exp iry date of October 06. 2010. I 2. A Life Agent R,e porting Form dated April 07, 2009 was submitted to the Financial Services Commission of Ontario by Industrial Alliance Paci fic Insurance and Financial Services Inc. (Industrial Alliance) alleging that between September 2008 and March 2009 the agent submitted 29 false insurance applications.
3. The following l I ll egations were contained in doc umentatio n obtained from Industrial Alliance. 3 . On December 17, 2008 the agent submitted a life insurance application for Winston Hall . The Winston Hall named on the application is fictitious.
b. On Declmber 18, 2008 the agent submitted a life insurance application for Patrick Farmer.l The Patrick Fanner named on the application is fictit ious.
c. On Jan1rr 08, 2009 the agent submitted a life insurance application for Martin Brower. The Mart in Brower named on the application is fictitious. I d. On January 21, 2009 the agent submitted a life insurance application for Mark Robert son. The Mark Robertson named on the application is fictitious. I 4. When Industrial , Alliance investigated the incidents the agent readi ly admitted that the policy holders named on the app lications did not ex ist. 5. The agent had An unblem ished record with Industrial Alliance during the 14 years he was with them Priorito these incidents occurring.
6. The agent was under extreme financi al pressure when the incidents occurred. 7. Industrial AlliJce has term inated their contract with the agent. I I I