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IN THE MATTER OF the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular sections 392.4 and 407.1;
AND IN THE MATTER OF Maurice Aziz (“Aziz”).
ORDER TO REFUSE TO RENEW LICENCE
On August 9, 2023, Aziz submitted an application to renew his insurance agent licence (licence # 94024335) under the Act.
On May 2, 2024, 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 refuse to renew the insurance agent licence (licence # 94024335) issued to Aziz.
The Notice of Proposal was delivered to Aziz on May 2, 2024. Section 407.1(3) 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 August 20, 2024, the Registrar of the Tribunal confirmed that Aziz did not request a hearing by the Tribunal in accordance with section 407.1(3) of the Act respecting the Notice of Proposal. Therefore, pursuant to section 407.1(7) of the Act, the Director makes the following order.
ORDER
The renewal of the insurance agent licence (licence # 94024335) issued to Maurice Aziz is hereby refused, for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, .
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Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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