REGARDING the Insurance Act, R.S.O. 1990, c. I.8, as amended (the “Act”), in particular section 441.4;
AND REGARDING Andrey Moussallem
ORDER IMPOSING SUMMARY ADMINISTRATIVE PENALTY
Andrey Moussallem holds a life insurance and accident and sickness insurance agent licence, licence number 94028143.
In a letter dated April 6, 2021 sent to Andrey Moussallem, a delegate of the Chief Executive Officer of Financial Services (“Chief Executive Officer”) advised of the intention to impose a summary administrative penalty against Andrey Moussallem for the following contravention:
Pursuant to subsection 441.4(2) of the Act, the Chief Executive Officer provided Andrey Moussallem with the opportunity to make written submissions, which were to be received by the Chief Executive Officer’s delegate on or before April 30, 2021. No submissions were received.
Therefore, pursuant to subsection 441.4(1) of the Act and Item 30 of Schedule 3 of Ontario Regulation 408/12, the Chief Executive Officer orders a summary administrative penalty against Andrey Moussallem.
A summary administrative penalty of $1,000 is imposed on Andrey Moussallem.
TAKE NOTICE THAT the Financial Services Regulatory Authority of Ontario will deliver an invoice to Andrey Moussallem, with information as to where and how to pay the administrative penalty. Andrey Moussallem must pay the administrative penalty no later than thirty (30) days after the date of the invoice.
If Andrey Moussallem fails to pay the administrative penalty 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 the order imposing the penalty is a debt due to the Crown and is enforceable as such.
DATED at Toronto, Ontario, June 7, 2021.
Original signed by
Senior Manager, Licensing Compliance
By delegated authority from the Chief Executive Officer
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