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.


Superintendent of
Ontario Coat of Arms
Surintendant des

REGARDING the Insurance Act, R.S.O. 1990, c.I.8, as amended, in particular sections 392.5 and 407.1

AND REGARDING Bassant Elsayed Elassal


On March 27, 2015, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Revoke Licence regarding the insurance agent licence of Bassant Elsayed Elassal (“Mr. Elassal”).

Mr. Elassal had 15 days after service of the Notice to request a hearing before the Financial Services Tribunal (“Tribunal”) in accordance with section 407.1(3) of the Insurance Act (the “Act”).

The Registrar of the Tribunal has confirmed that no request for a hearing has been received from Mr. Elassal or anyone on his behalf in respect of the proposal to revoke.

Section 401.1(7) of the Act provides that the Superintendent may carry out the proposal to revoke a licence when no hearing has been requested.


The insurance agent licence of Bassant Elsayed Elassal is revoked.

DATED at Toronto, May 22, 2015.

Original signed by

Shonna Neil
Director, Licensing Branch
Licensing and Market Conduct Division
By Delegated Authority from:
The Superintendent of Financial Services


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