The Financial Services Regulatory Authority of Ontario (FSRA) refused to renew the licence of Mckasey Samuel Cadore (No. 19176543), a life and accident and sickness insurance agent, on September 16, 2026.
False claims under Sun Life's group benefits plan
While under contract with Sun Life Financial Inc., Cadore submitted false group benefits claims for himself and his spouse between February 2021 and November 2024, receiving approximately $50,000 in reimbursements and did not repay them.
Sun Life investigated the high volume of claims and confirmed with service providers that some services had never been rendered, despite Cadore having certified otherwise. He could not provide supporting documentation and acknowledged claiming services not covered by the plan.
Cadore failed to make the initial payments under a repayment agreement, prompting Sun Life to terminate it. On January 30, 2025, the insurer also terminated his contract for cause, citing dishonest or fraudulent conduct and a failure to act honestly and in good faith.
A "No" answer on the renewal application
In his September 4, 2025, renewal application, Cadore answered "No" when asked whether an employment or business relationship had ever been terminated for fraud or misappropriation of funds, despite Sun Life having terminated his contract for cause.
What the Director alleged in the notice of proposal
On June 18, 2026, the Director, Litigation and Enforcement, proposed refusing to renew Cadore’s licence, citing incompetence or untrustworthiness arising from the false claims, unpaid reimbursements and failure to disclose his contract termination.
The Director considered the nondisclosure a false statement or material omission and concluded that licence conditions would not adequately mitigate the risk to consumers or protect the public.
Hearing request withdrawn
Cadore requested a hearing before the Financial Services Tribunal on July 20, 2026, but withdrew his request on September 2. The Tribunal closed his file the next day, and the Director subsequently issued the final order, relying on the reasons set out in the notice of proposal.
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