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Financial Services Regulatory Authority of Ontario

IN THE MATTER OF the Insurance Act, RSO 1990, c. I.8, as amended (the “Act”), in particular sections 441.1, 441.2 and 441.3;

AND IN THE MATTER OF Jean-Francois Rousseau

 

ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY

Jean-Francois Rousseau is licensed as a life insurance and accident & sickness insurance agent (licence # 02072379) under the Act.

On May 21, 2019, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to Impose three (3) administrative penalties in the total amount of $6,000 on Mr. Rousseau for making false or misleading representations in the solicitation or registration of insurance, contrary to clause (c) of section 17 of Ontario Regulation 347/04.

A Request for Hearing (Form 1) dated June 5, 2019, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 441.3(5) of the Act respecting the Notice of Proposal.

Effective June 8, 2019, pursuant to the Financial Services Regulatory Authority of Ontario Act, 2016, S.O. 2016, c. 37, Sched. 8, the Financial Services Regulatory Authority of Ontario (“FSRA”) became the regulator under the Act and the powers and duties previously vested in the Superintendent were vested in the Chief Executive Officer of FSRA (the “Chief Executive Officer”).

Jean-Francois Rousseau and the Executive Vice President, Market Conduct at FSRA (the “EVP”), by delegated authority from the Chief Executive Officer,  resolved the issues arising from the Notice of Proposal and Request for Hearing, and entered into a settlement agreement.

On November 20, 2019, Jean-Francois Rousseau withdrew the Request for Hearing and the Tribunal closed its file in respect of this matter.

Pursuant to section 441.3(7) of the Act, the EVP may carry out the proposal.

ORDER

Three (3) administrative penalties in the total amount of $2,250 are hereby imposed on Jean-Francois Rousseau.

TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Jean-Francois Rousseau, with information as to where and how to pay the administrative penalties. Jean-Francois Rousseau must pay the administrative penalties no later than thirty (30) days after the date of the invoice.

If Jean-Francois Rousseau fails to pay the administrative penalties 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, January 21, 2020.

Original signed by

Huston Loke
Executive Vice President, Market Conduct

By delegated authority from the Chief Executive Officer.

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