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An order that is made regarding a licence holder reflects a situation at a particular point in time. The status of a licence holder can change. Readers should check the current status of a person’s or entity’s licence on the Licensing Link section of FSCO’s website. Readers may also wish to contact the person or entity directly to get additional information or clarification about the events that resulted in the order.

 

Financial Services Regulatory Authority of Ontario - Office of the CEO

REGARDING the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”), in particular sections 288.5 and 288.7;

AND IN THE MATTER OF Nema Mansouri

 

ORDER TO REFUSE LICENCE APPLICATION

On February 2, 2018, Mr. Nema Mansouri (“Mr. Mansouri”) submitted an application for a service provider licence under the Insurance Act.

On May 26, 2019, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to refuse Mr. Mansouri’s licence application (the “Notice of Proposal”).

On June 4, 2019, the Notice of Proposal was sent by registered and regular mail to the address provided by Mr. Mansouri in his application. The copy of the Notice of Proposal sent by registered mail was returned as unclaimed. The copy of the Notice of Proposal sent by regular mail was not returned.

On June 8, 2019, the Financial Services Regulatory Authority of Ontario assumed the regulatory duties of the Financial Services Commission of Ontario, and the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”) assumed the regulatory duties of the Superintendent, under the Act.

On August 12, 2019, the Registrar of the Financial Services Tribunal confirmed that no request for hearing has been received from Mr. Mansouri.

ORDER

The application of Nema Mansouri for a service provider licence, dated February 2, 2018, is hereby refused.

DATED at Toronto, Ontario, October 15, 2019.

Original signed by

Michael Tin
Senior Manager, Market Conduct

By delegated authority from the Chief Executive Officer

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