Disclaimer
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

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

AND IN THE MATTER OF Kuljeet Singh.

ORDER TO IMPOSE AN ADMINISTRATIVE PENALTY

On July 19, 2018, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to Revoke Licence, a Notice of Proposal to Make a Permanent Cease and Desist Order, and a Notice of Proposal to Impose Administrative Penalties against Kuljeet Singh (“Singh”) for various contraventions of the Insurance Act (the “Act”).

On August 14, 2018, Mr. Singh requested a hearing before the Financial Services Tribunal (the “Tribunal”) in accordance with subsection 441.3(5) of the Act.

Effective 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.

The Executive Vice President, Market Conduct, by delegated authority from the Chief Executive Officer and Singh have resolved the matter without a hearing and on consent.

On January 6, 2020, Mr. Singh withdrew the Request for Hearing.

The Registrar of the Tribunal confirmed on January 6, 2020, that the hearing was cancelled.

ORDER

An administrative penalty in the amount of five thousand dollars ($5,000) is hereby imposed on Kuljeet Singh.

TAKE NOTICE THAT that the Financial Services Regulatory Authority of Ontario will deliver an invoice to Kuljeet Singh, with information as to where and how to pay the administrative penalty. Kuljeet Singh must pay the administrative penalty no later than one (1) year after the date of the invoice.

If Kuljeet Singh 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, February 21, 2020.

Original signed by

Huston Loke
Executive Vice President, Market Conduct

By delegated authority from the Chief Executive Officer


Si vous désirez recevoir cet avis en français, veuillez nous envoyer votre demande par courriel immédiatement à : contactcentre@fsrao.ca.