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 Hong Wei Liao
Hong Wei Liao (“Liao”) was licensed as a Life and Accident and Sickness Insurance Agent (licence #08104706) under the Act since September 2008. On July 26, 2024, Liao submitted an application to renew the insurance agent licence (licence #08104706) under the Act.
On December 18, 2024, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Licensing (the “Director”) issued a Notice of Proposal to refuse to renew Liao’s insurance agent licence.
The Notice of Proposal was delivered to Liao on December 19, 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 January 2, 2025, Liao filed the Request for Hearing with the Financial Services Tribunal.
On April 4, 2025, the Registrar of the Tribunal received Liao’s withdrawal of the Request for Hearing. Therefore, pursuant to section 407.1 (7) of the Act, the Director makes the following order.
The life and accident and sickness insurance agent licence issued to Hong Wei Liao (licence #08104706) is hereby refused for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, on this 5th day of May, 2025.
Original signed by
Yovanka McBean
Director, Licensing (A)
By delegated authority from the Chief Executive Officer
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