REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular section 441;
AND REGARDING a Proposed Cease and Desist Order against Axccess Lifestyle Membership Corporation and Robert Mattacchione;
AND REGARDING an Interim Cease and Desist Order against Axccess Lifestyle Membership Corporation and Robert Mattacchione.
EXTENSION OF INTERIM CEASE AND DESIST ORDER
On October 20, 2011, the Superintendent of Financial Services (“Superintendent”) issued an Interim Cease and Desist Order against Axccess Lifestyle Membership Corporation and Robert Mattacchione.
The Interim Cease and Desist Order required Axccess Lifestyle Membership Corporation and Robert Mattacchione, and any of their agents, representatives and successors thereof, to:
A. Immediately cease making and/or publishing any statements, written or otherwise, to the effect that Axccess Lifestyle Membership Corporation can arrange for, secure, or facilitate insurance coverage provided by Lloyd’s Canada.
B. Immediately cease making and/or publishing any statements to the effect that Axccess Lifestyle Membership Corporation can arrange for, secure, or facilitate insurance coverage whose clearance and brokerage is provided by Chesterfield Insurance Brokers Limited, and/or Chesterfield Insurance Brokers Ltd., and/or Chesterfield Canada Inc.
The Interim Cease and Desist Order was issued pursuant to subsection 441(4) of the Insurance Act.
Axccess Lifestyle Membership Corporation and Robert Mattacchione filed a Request for Hearing by the Financial Services Tribunal. No hearing date has been scheduled as yet.
The Superintendent is of the opinion that the Interim Cease and Desist Order should be extended until the hearing in this matter has been concluded and the Interim Cease and Desist Order is either confirmed, varied or revoked by the Financial Services Tribunal, or revoked by the Superintendent in writing. The Superintendent continues to be of the opinion that the interests of the public may be prejudiced or adversely affected by any delay.
ORDER
The Superintendent orders that the Interim Order to Cease and Desist issued October 20, 2011, is extended until the hearing is concluded and the order is confirmed, varied or revoked.
ISSUED AT the City of Toronto, November 22, 2011.
Phillip Howell
Superintendent of Financial Services
TO: Axccess Lifestyle Membership Corporation
ICC Global Group
665 Millway Avenue, Suite 38
Concord, Ontario
L4K 3T8
AND TO: Robert Mattacchione
79 Selvapiano Crescent
Woodbridge, Ontario
L4H OX1
AND TO: Stephen Scharbach
Financial Services Commission of Ontario
Legal Services Branch
5160 Yonge Street, Suite 1700
Toronto ON M2N 6L9
Tel: 416-590-7244
Fax: 416-590-7556