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 Qiong Shao.
ORDER TO IMPOSE ADMINISTRATIVE PENALTIES
Qiong Shao (“Shao”) was previously licensed as a Life Insurance and Accident and Sickness Insurance Agent (licence number 11121726) under the Act.
On October 15, 2020, by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Director, Litigation and Enforcement, (the “Director”) issued a Notice of Proposal to impose two administrative penalties in the total amount of $3,000 on Shao for furnishing false, misleading, or incomplete information to the Financial Services Regulatory Authority of Ontario contrary to clause 447(2)(a) of the Act.
The Notice of Proposal was delivered to Shao on October 15, 2020. Section 407.1(3) of the Act provides that any person on whom a Notice of Proposal is delivered has fifteen
(15) days after the Notice of Proposal is received to request a hearing by the Financial Services Tribunal (the “Tribunal”).
On November 4, 2020, Shao’s lawyer stated that Shao would not be requesting a hearing by the Tribunal in accordance with section 407.1(3) of the Act in respect of the Notice of Proposal.
Therefore, pursuant to section 407.1(7) of the Act, the Director makes the following order.
Administrative penalties in the amount of $3,000 are hereby imposed on Qiong Shao, for the reasons set out in the Notice of Proposal.
TAKE NOTICE THAT Financial Services Regulatory Authority of Ontario will deliver an invoice to Shao with information as to where and how to pay the administrative penalties.
If Shao 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, November 18, 2020.
Original signed by
Director, Litigation & Enforcement
By delegated authority from the Chief Executive Officer
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