IN THE MATTER OF REGARDING the Insurance Act, RSO 1990, c. I.8, as amended (the “Act”), in particular sections 392.5 and 407.1(8);
AND IN THE MATTER OF Martin Stover (“Stover”).
ORDER TO REVOKE LICENCE
Stover was previously licensed as a life insurance and accident and sickness insurance agent (licence # 94017306) under the Act (the “License”).
On October 30, 2020, and 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 revoke the License.
A Request for Hearing (Form 1), dated November 13, 2020, was delivered to the Financial Services Tribunal (the “Tribunal”) in accordance with section 407.1(3) of the Act respecting the Notice of Proposal.
The License expired on January 2, 2021. Stover applied to renew the License on January 4, 2021.
On March 9, 2021, the Tribunal issued an order dismissing the proceedings without further hearing and without further notice. On March 9, 2021, the Tribunal closed its file in respect of this matter.
Pursuant to subsection 407.1(8) of the Act, the Chief Executive Officer retains jurisdiction with respect to the Notice of Proposal despite the expiration of the Licence.
Therefore, pursuant to sections 392.5 of the Act, the Director makes the following order.
The insurance agent licence (licence # 94017306) issued to Martin Stover is hereby revoked, for the reasons set out in the Notice of Proposal.
DATED at Toronto, Ontario, March 16, 2021.
Original signed by
Director, Litigation & Enforcement
By delegated authority from the Chief Executive Officer
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