Superintendent off Fiinancial Seerrviiceess Regarding tthe Liiffee IInnssuurraannccee aaggeenntt''ss licence of EHIISAN KHADAKER ((KHIJANNDDAAKKEERR)) Lliicence number 99056528
AND the Insurancce Acctt,, R..S..O.. 1990,, c..IL.8x,, as amended, particularly secttiionn 393
ORDIlER Pursuant to a Minutes off Settttllemeent aand Aggrreeeed SSttaatteemmeennt to of fFFaacctsts, .lilsistetedd aas sSSchcheedduluel e" A"A"," a, lal ll of which arre ffiilled,. Il hereby order thaatt thee life insurance agentt''s licence of EEhhssaann KKhhaannddaakkeerr b bee suspendeedd ffoorr aa ppeerrioiodd o off s siixx m monotnhthsce ~ o...~ I/ I} '-LLOoOa,gf,, Dated at Toronto the 27._-7-? v `G r t day of J-T AltAet ., 2008 ~ Grant Swanson. Executive Diirrector. Licensing and Market Regulation Diivviissiion by delegated authoriity from The Superintendentt of Fiinanciiall Seerrvviicceess Financial Serrvices Commission off Onttaarriioo
,
Superriinttendentt off FFiinaanciiaall Seerrvviicceess Reganrding tthe Liiffe IInsurrance Agentt''ss licence of EHli SANI' K'dHI AIN'IDlAKERll
Licence number 99056528
ANI'DIl The IInsurance A..clet.t . R..S..O.. 1999900. ,c .e1l.l8,. As amended,. parttiicullarlly secttiion 393
'M\ l inutel"s" o(Iff Sel'tIttlIet'mI1Ieln'lItt The Superriinttendentt off Fiinanciiall Serrviices (r"-Supecrriinmteennddeenntt"") ji ninitiitaiatetedd a ann i ninvveesstitgigaatitoionn regardiing the conduct of Ehsan Khanudakecrr ("Khhaannddaakkecrr"-)).
Khandaker andd tthee Superintendent wish tto rresollve tthe matitlerr wiitthoutt a hheeaarriinng aand o0n11 consent.
In considerattiion of the mutuaall covenants and promises sett oouutt bbeellooww_. and on tthe bbasis off tthee ffactts attttached iin Schedullee -··A-·'.. tthe Superriinttendentt and Khandakerr agrree as ffolllloowwss: :
I.. KKhhaannddaakkeerr w waaiivveess h hisis r irgighht tt oto a a h heeaarriinngg bbeeffoorree a ann AAddvvisiosoryry B Booaradrd a anndd ththe : Superriinttendentt and any rriightt tto an appeall ffrrom aan oorrddeerr oorr ddeeccisisioionn o of fththee Superriinttendentt iin tthiis maatttteerr..
Khandaker acknowledges and agrees tthati hhe hhaas been adviised t1o0 seek and rreecceeiive iindependentt llega ll adviice and iis entterriing iinntto tthheessee Miinnuutetess oof fSeettttlelcmmeennt t voluntarily., underrssttaandiinng tthhee ccoonnsseeqquueenncceess oof fhhisis d dooiningg s oso_.
3.. Khandaker.. for the purposes off tthiis prroocceeeeddiinngg aaddmiittss t oto ththee f afacctsts a ass s seet to ouut ta anndd appended iin Schedulle "A -·._
4.. Khandakerr agerrees tthatt tthe ffacttss sseett outt iinn SScchheedduulele ""AA-' woulld consttiittutte egrrounds to convene an Advisory Board Hearing which may result iin tthe rreevvocattiioon oorr suspension of his Life Insurance Agent''ss LLiicceennccee..
) . Khandaker consents t1o0 having tthe Supperiintteennddeenntt isisssuuee aann o ordrdeer rssuuspspeennddiningg h hisi s Liiffe IInsurrance Agentt''s Liicence fforr a perriiod off ssiixx ((66)) mmoonntthhss. .
6.. KKhahnadnadkaekre ra cakcknonowwleldegdgese sa nadnd u nudnderesrtsatnandds st htahta tt hteh eM Mininuutetse so of fSSetettltelmemenetn ta nadn d Schedulle "-A -' arre publliic documentts and tthe Suppeerriinntteennddeenntt wwiillll ppuubblliisshh parrttiicullarrs off tthe docuumeentt.,
7. The Superintendent agrees not t10o proceed with Advisor): Boaarrd HHeeaarriingg prroceediings rregarrdiing tthe matttterrs ssett outt iinn SScchheedduullee ·-·A -· and wiillll noOtI ttake aan ) ffurrttherr prroceediin nggss aaggaaiinnsst tK Khhaannddaakkecr ra arirsiisnign gf rformom th teh ea lalellgeagtaito inosn ass a fso nlotn!.g a sa s Khandakerr complliies wiitth tthe Miinuttes off SSeettttlleemeenntt..
8.. KKhhananddaakkeer ru unnddeersrtsatannddss t hthaat tt htheessee M Mininuutetess o of fSSeetttlelemmeenntt aarree nnoott bbiinnddiinngg uunnttiill siigned by tthe Superiintteenddeenntt oorr hhiiss ddeelleeggaatete. .
Khandakerr herreby acknmomwlleeddeg.es tthatt tthe above Miinutteess ooff SSeettttlleementt isis aann uunnddeertratakkiningg tto tthe Superriinttendentt wiitthiin tthe meaniing off Seeccttiioonn 444477 ((22))((cc)) aanndd 444488 ((I I))((bb)) o of fththee IInsurrance Actt.. R..S..O.. 11999900.. cchhaaptteerr L18.8 aass aammeennddeedd. .
Datted att MPI ,!S SSC ,IS5SA A L0l6GA tthhee JO 7. ddaayy ooff .S.3v-V,"I4CC ."220008 Ehsan Khandakerr WWii ttn:essi #~' 0\. Dated tIhe )...1-1 day off 'J <L-ve ". 2008 !~s - P • - Grrrantt Swanson. E. E x ecutui " v ' e - D o i " rrr : e c ctto rr Liicensiing and Markett Conductt Diiviissiion.. by dellegatted autthoriitty ffrrom tthhee Superriinttendentt of Fiinanciiall Serrviices Fiinanciiaall Serrviicess Commiissssiion off Onttarriio