IN THE MATTER OF the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”), in particular sections 392.5 and 407.1;
AND IN THE MATTER OF Denis Gilbert.
ORDER TO SUSPEND LICENCE
Denis Gilbert (“Gilbert”) is licensed as an insurance agent (licence # 94018587) under the Act.
On September 4, 2018, the Superintendent of Financial Services (the “Superintendent”) issued a Notice of Proposal to revoke the insurance agent licence (licence # 94018587) issued to Gilbert under the Act. The Superintendent determined that Gilbert was no longer suitable to be licensed.
On November 1, 2018, a Request for Hearing (Form 1), was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with subsection 407.1(3) of the Act respecting the Notice of Proposal.
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.
The Tribunal, in its Reasons for Decision dated February 21, 2020 (the “Decision”), substituted its opinion and directed the Chief Executive Officer to suspend Gilbert’s insurance agent licence for a period of four (4) months.
The insurance agent licence (licence # 94018587) issued to Gilbert is hereby suspended for four (4) months for the reasons set out in the Decision.
DATED at Toronto, Ontario, May 5, 2020.
Original signed by
Executive Vice President, Market Conduct
By delegated authority from the Chief Executive Officer,
Financial Services Regulatory Authority of Ontario
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