IN THE MATTER OF the Insurance Act, RSO 1990, c. I.8, as amended (the “Act”), in particular sections 441.2 and 441.3;
AND IN THE MATTER OF Tejpal Mann (Mann) and Daniel Emerson Tiffin (Tiffin).
ORDER IMPOSING AN ADMINISTRATIVE PENALTY
Tiffin was formerly licensed as a life insurance and accident & sickness insurance agent from April 1, 1994 until February 7, 2019 under the Act.
On April 24, 2023, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Litigation and Enforcement (the “Director”) issued a Notice of Proposal to impose an administrative penalty in the amount of $50,000 on Tiffin for acting as an insurance agent without a licence contrary to section 2(1) of the Ontario Regulation 347/04.
The Notice of Proposal was delivered to Tiffin on April 25, 2023. Section 441.3(5) of the Act provides that any person on whom a Notice of Proposal is delivered has fifteen (15) days after the Notice of Proposal is received to request a hearing by the Financial Services Tribunal (the “Tribunal”).
On May 30, 2023 the Registrar of the Financial Services Tribunal (the “Tribunal”) confirmed that Tiffin did not request a hearing by the Tribunal in accordance with section 441.3(5) of the Act respecting the Notice of Proposal. Therefore, pursuant to section 441.3(7) of the Act, Director makes the following order.
ORDER
An administrative penalty in the amount of $50,000 is hereby imposed on Daniel Emerson Tiffin, for the reasons set out in the Notice of Proposal.
TAKE NOTICE THAT Financial Services Regulatory Authority of Ontario will deliver an invoice to Tiffin with information as to where and how to pay the administrative penalty. Tiffin must pay the administrative penalty no later than thirty (30) days after the date of the invoice.
If Tiffin 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 Toronto, Ontario, June 13, 2023
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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