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 Hardeep Minhas (“Minhas”)
Minhas is licensed as a Life Insurance and A&S Insurance Agent (licence #17163861) under the Act. He has been licensed since December 21, 2017.
On October 1, 2025, the Director, Litigation & Enforcement (the “Director”), by delegated authority from the Chief Executive Officer (“CEO”) of the Financial Services Regulatory Authority of Ontario (“FSRA”), issued a Notice of Proposal in respect of Minhas (the “NOP”).
A Request for Hearing (Form 1), dated October 14, 2025, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 441.3(5) of the Act respecting the NOP.
On April 10, 2026, Minhas withdrew the Request for Hearing, and the Tribunal closed its file in respect of this matter. Therefore, pursuant to section 441.3(7) of the Act, the Director makes the following Order.
An administrative penalty in the amount of $1,750 is hereby imposed on Hardeep Minhas for the reasons set out in the Minutes of Settlement.
TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Hardeep Minhas with information as to where and how to pay the administrative penalty. Hardeep Minhas must pay the administrative penalty no later than thirty (30) days after the date of this Order or as otherwise agreed on.
If Hardeep Minhas 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, April 13, 2026.
Original signed by
Elissa Sinha
Director, Litigation and Enforcement
Financial Services Regulatory Authority of Ontario
By delegated authority from the Chief Executive Officer
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