Two life insurance and accident and sickness insurance agents in Ontario are being ordered to pay a summary administrative penalty each after the Financial Services Regulatory Authority of Ontario (FSRA) advised them that they failed to complete 30 hours of continuing education.
According to FSRA’s orders imposing summary administrative penalties in each case, Jagdish Kaur Malhi and Stacey Lynn Ewing were each given the opportunity to make written submissions after being advised by a FSRA delegate of the chief executive officer of financial services that the regulator intended to impose the sanctions. No submissions were received in either case.
For failing to complete 30 hours of continuing education, each agent was ordered to pay $1,000 within 30 days. If either agent fails to pay the administrative penalty, FSRA says it may file their order with the Superior Court of Justice. “The order may be enforced as if it were an order of the court,” FSRA writes. “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.”
