Financial Services Regulatory Authority of Ontario

IN THE MATTER OF the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 392.4, 392.5, 407.1, 441.2 and 441.3;

AND IN THE MATTER OF Susan Keshen

ORDER TO REVOKE LICENCE, REFUSE TO RENEW LICENCE

AND IMPOSE ADMINISTRATIVE PENALTIES

Susan Keshen (“Keshen”) was licensed as a life insurance and accident and sickness insurance agent (licence #94012372). Keshen was licenced until her licence expired on August 12, 2022.

On April 27, 2022, 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 revoke licence and impose administrative penalties on Keshen for contraventions of sections 401, of the Act and subsection 17(c) of Ontario Regulation 347/04.

A Request for Hearing (Form 1), dated May 11, 2022, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 441.3(5) of the Act respecting the Notice of Proposal.

On August 8, 2022,Keshen applied to renew her licence. The renewal application was refused. On February 23, 2023, the Tribunal ordered that the refusal of her renewal application be combined with the existing request for a hearing on the NOP.

On May 30, 2023, Keshen withdrew the Request for Hearing, and, on June 7, 2023, the Tribunal closed its file in respect of this matter. This order is made pursuant to a settlement entered into by Keshen and the Director.

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ORDER

The insurance agent licence (licence # 94012372) issued to Susan Keshen is hereby revoked and her renewal is hereby refused, for the reasons set out in the Minutes of Settlement.

Administrative penalties in the total amount of $18,000 are hereby imposed on Susan Keshen, for the reasons set out in the Minutes of Settlement.

TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Keshen with information as to where and how to pay the administrative penalties. Susan Keshen must pay the administrative penalties no later than thirty (30) days after the order is issued unless otherwise agreed with the Financial Services Regulatory Authority of Ontario.

If Keshen fails to pay the administrative penalties 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 the order imposing the penalty is a debt due to the Crown and is enforceable as such.

DATED at Toronto, Ontario,

,.

June 9, 2023

Elissa Sinha

Director, Litigation and Enforcement

By delegated authority from the Chief Executive Officer

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