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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 441.2 and 441.3;

AND IN THE MATTER OF Muhammad Bajwa (“Bajwa”).


ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY

Bajwa is not currently licensed as an insurance agent under the Act. Bajwa has never held a licence under the Act to conduct insurance business in Ontario.

On December 3, 2021, 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 $52,000 on Bajwa for:

  1. contravening section 392.2(6) of the Act and section 2(1) of Ontario Regulation 347/04 by engaging in unlicensed insurance activity; and

  2. contravening section 401 of the Act by representing himself to the public as an insurance agent without a licence.

The Notice of Proposal was delivered to Bajwa on December 6, 2021. 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 given to request a hearing by the Financial Services Tribunal (the “Tribunal”).

On January 4, 2022, the Registrar of the Tribunal confirmed that Bajwa 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, the Director makes the following order.

ORDER

An administrative penalty in the amount of $52,000 is hereby imposed on Muhammad Bajwa, for the reasons set out in the Notice of Proposal.

TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Muhammad Bajwa with information as to where and how to pay the administrative penalty. Muhammad Bajwa must pay the administrative penalty no later than thirty (30) days after the date of the invoice.

If Muhammad Bajwa 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, January 19, 2022

Original signed by

Elissa Sinha
Director, Litigation and Enforcement

By delegated authority from the Chief Executive Officer

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