Gord Royle Insurance Brokers Limited
Registration Number: A1898
Sault Ste. Marie, Ontario
Ralph Peter Plastino
Registration Number: R15434
Sault Ste. Marie, Ontario
HEARING DATE: October 29, 2010
MISCONDUCT: Ont. Reg. 991, ss. 14 (1), 15 (1)13, 15(1)14, 16(4), 16(4)1, 16(4)2, 16(4)4i, ii, 16(4)5, 16(6), 17(2), 17(2)(d), 17(5), 21(1), 21(2).
THE PARTICULARS OF THE COMPLAINT ARE AS FOLLOWS:
Gord Royle Insurance Brokers limited (hereinafter referred to as “Gord Royle Insurance”) continuously operated in a net trust deficit position as determined by RIBO staff in their investigation.
An investigation by RIBO staff indicated that Gord Royle Insurance may have failed to maintain accounting books and records in accordance with the Regulations. They also may have not deposited trust funds into the trust account and may have disbursed or withdrew moneys from its trust account not in accordance with the terms and conditions upon which the moneys were received or otherwise provided and Gord Royle Insurance may have failed to maintain, at all times, in its trust account moneys and trust investments that are sufficient, together with trust funds receivable, to meet all its trust obligations.
Ralph Peter Plastino as Principal Broker of Willport Realty knowingly concurred in the misconduct of the corporation.
DISCIPLINE COMMITTEE’S DISPOSITION:
The Discipline Committee accepted the plea of guilty by Ralph Peter Plastino personally, and on behalf of Gord Royle Insurance, and accepted the evidence adduced by RIBO in support of the plea of guilty and found that Gord Royle Insurance and Ralph Peter Plastino
were guilty of misconduct as alleged in the Direction therein and ordered:
(a) That the Certificate of Registration of Gord Royle Insurance be revoked
effective immediately.
(b) That the Certificate of Registration of Ralph Peter Plastino be suspended for
a period of 3 months, such suspension to commence on October 29, 2010
and cease on January 31, 2011.
(c) That the Certificate of Registration of Ralph Peter Plastino be changed to
“X” Unrestricted Acting Under Supervision (Discipline Order) as of October
29, 2010.
(d) That a recommendation be made to the Qualification and Registration
Committee that they not consider an application by Ralph Peter Plastino to
Have the said restriction removed until after 5 years from October 29,
2010, and before it can be removed he must first attend the IBAO
Advanced Broker Technical and Management Courses and pass the RIBO
Unrestricted Technical and Management Exams.
(e) That Ralph Peter Plastino be required to advise his current or any
subsequent employer of the findings of the Discipline Committee.