IN THE MATTER OF the Insurance Act, RSO 1990, c. I.8, as amended (the “Act”), in particular sections 392.4 and 407.1;
AND IN THE MATTER OF Sivashanthi Vijayakumaran (“Vijayakumaran”).
On July 7, 2023, Vijayakumaran submitted an application for an insurance agent licence under the Act.
On May 16, 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 issue an insurance agent licence to Vijayakumaran.
The Notice of Proposal was delivered to Vijayakumaran on July 21, 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 27, 2024, The Registrar of the Tribunal confirmed that Vijayakumaran 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.
The issuance of the insurance agent licence to Sivashanthi Vijayakumaran is hereby refused, for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, September 4, 2024.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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