CAUTION: While the information contained below is public, members should take caution that inappropriate use of this information may be considered to be an act of misconduct
Ontario Insurance Brokers Ltd.
Registration Number: A02738
Windsor, Ontario
Michael V. Burke
Registration Number: R001476
Blenheim, Ontario
HEARING DATE: May 8, 2008
MISCONDUCT: Ont. Reg. 991, ss. 15(1)13, 16(4)4i and ii, 16(4)5, 16(6)
PARTICULARS OF THE COMPLAINT:
Ontario Insurance Brokers Ltd. (hereinafter referred to as “OIBL”) continuously operated in a net trust deficit position, especially for the months of December 31, 2006, January 31, 2007 and February 26, 2007 as determined by RIBO staff in their investigation.
Michael V. Burke as a Director and Officer of OIBL knowingly concurred in the misconduct of the corporation.
DISCIPLINE COMMITTEE’S DISPOSITION (05/08/08)
The Discipline Committee accepted the plea of guilty by Michael V. Burke personally, and on behalf of OIBL, accepted the evidence adduced by RIBO in support of the plea of guilty and found that OIBL and Michael V. Burke were guilty of misconduct as alleged therein and ordered:
(a) That OIBL pay a fine in the amount of $5,000.00 made payable to the Minister of Finance.
(b) That Michael V. Burke be reprimanded for his actions.