IN THE MATTER OF the Insurance Act, RSO 1990, c. I.8, as amended (the “Act”), in particular sections 392.4, 392.5, and 407.1;
AND IN THE MATTER OF Carmen Munoz Gutierrez (“Munoz Gutierrez”);
AND IN THE MATTER OF 1000532009 Ontario Ltd.
Munoz Gutierrez was licensed as a life insurance and accident & sickness insurance agent (licence # 20179842) under the Act from January 8, 2020, until her licence expired on November 16, 2024.
On August 3, 2023, Munoz Gutierrez submitted an application for a corporate insurance agent licence for 1000532009 Ontario Ltd. under the Act.
On February 20, 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 a licence to 1000532009 Ontario Ltd. and to revoke the licence of Munoz Gutierrez.
Requests for Hearing (Form 1s), dated March 7, 2024, were delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 407.1(3) of the Act respecting the Notice of Proposal.
On March 12, 2025, Munoz Gutierrez and 1000532009 Ontario Ltd. withdrew their Requests for Hearing and on April 1, 2025, the Tribunal closed its file in respect of these matters. Although Munoz Gutierrez’s licence expired on November 16, 2024, the Chief Executive Officer has continued jurisdiction pursuant to section 407.1(8) of the Act. Therefore, pursuant to section 407.1(7) of the Act, the Director makes the following orders.
The life insurance and accident & sickness insurance agent licence issued to Carmen Munoz Gutierrez (licence # 20179842) is hereby revoked for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, on April 14, 2025.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
The application of 1000532009 Ontario Ltd. for a corporate insurance agent licence is hereby refused for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, on April 14, 2025.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
By delegated authority from the Chief Executive Officer
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