IN THE MATTER OF the Insurance Act, 2006, R.S.O. 1990, c.I.8, as amended (the “Act”), in particular sections 392.4 and 407.1;
AND IN THE MATTER OF Aman Maharaj (“Maharaj”).
ORDER TO REFUSE TO ISSUE LICENCE
On June 24, 2021, Maharaj submitted an application for an insurance agent licence under the Act.
On March 31, 2022, and by delegated authority from the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario (the “Chief Executive Officer”), the Senior Manager, Licensing Compliance (“Senior Manager”) issued a Notice of Proposal to refuse to issue an insurance agent licence to Maharaj.
The Notice of Proposal was delivered to Maharaj on May 16, 2022. 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 June 14, 2022, the Registrar of the Tribunal confirmed that Maharaj did not request a hearing by the Tribunal in accordance with section 407.1(3) of the Act respecting the Notice of Proposal. Therefore, pursuant to section 407.1(7) of the Act, the Senior Manager makes the following order.
The issuance of the insurance agent licence to Aman Maharaj is hereby refused, for the reasons set out in the Notice of Proposal.
DATED at Vaughan, Ontario, June 16, 2022
Original signed by
Senior Manager, Licensing Compliance
By delegated authority from the Chief Executive Officer
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