IN THE MATTER OF the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”), in particular sections 441.2 and 441.3;
AND IN THE MATTER OF Sandeep Singh Dhaliwal
ORDER TO IMPOSE ADMINISTRATIVE PENALTIES
Sandeep Singh Dhaliwal (“Dhaliwal”) was licensed as a Life Insurance and Accident and Sickness Agent (licence #16156137) under the Act. Dhaliwal’s licence expired on December 6, 2020. Dhaliwal is not currently licensed under the Act.
On November 8, 2021, by delegated authority from the Chief Executive Officer of Financial Services Regulatory Authority of Ontario (“FSRA”), the Director, Litigation and Enforcement (the “Director”) issued a Notice of Proposal to impose administrative penalties on Dhaliwal for:
i. Contravening section 17(c) of Ontario Regulation 347/04 by making false and misleading statements and representations in the solicitation or registration of five (5) life insurance policies; and
ii. Contravening clause 447(2)(a) of the Act by furnishing false and misleading information to FSRA.
The Notice of Proposal was delivered to Dhaliwal on November 8, 2021 (the “Notice of Proposal”). A Request for Hearing (Form 1) dated November 21, 2021 was delivered by Dhaliwal to the Financial Services Tribunal (the “Tribunal”) with respect to the Notice of Proposal (the “Request for Hearing”).
This order is made pursuant to a Minutes of Settlement and Undertaking (the “Minutes”) entered into by Dhaliwal and the Director on March 22, 2022. Dhaliwal has, among other things, consented to pay administrative penalties in the amount and manner stated in the Minutes.
On March 24, 2022 Dhaliwal withdrew the Request for Hearing, and, on March 24, 2022, the Tribunal closed its file in respect of this matter.
ORDER
Two administrative penalties in the amount of $5000 are hereby imposed on Sandeep Singh Dhaliwal (“Dhaliwal”), for the reasons set out in the Notice of Proposal dated November 8, 2021 issued to Dhaliwal.
TAKE NOTICE THAT that the Financial Services Regulatory Authority of Ontario (“FSRA”) will deliver an invoice to Dhaliwal with information as to where and how to make the payment. Dhaliwal must pay the administrative penalties no later than 12 months from the date of this Order.
If Dhaliwal fails to pay the administrative penalty in accordance with the terms of this Order, the Chief Executive Officer may file the Order with the Superior Court of Justice and the Order may be enforced as if it were an order of the court. An administrative penalty that is not paid in accordance with the terms of an order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at, Ontario, March 24, 2022 .
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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