Agent accused of taking $2-million from clients loses license

The Financial Services Regulatory Authority of Ontario (FSRA) determined in January 2025 that Robert Randall Hawken and Dufferin Insurance Group, also known as Dufferin Financial Group, are no longer suitable to be licensed under the province’s Insurance Act. This follows Hawken’s arrest in September 2024 and rearrest in October that same year before reportedly being released on an undertaking. 

The regulator revoked both licenses in January 2025, making the announcement in the following weeks, on Feb. 5.

“Hawken, the sole director of DIG and DIG are no longer suitable to be licensed under the Insurance Act because of their past conduct, misappropriation of funds and for providing false or misleading information to their clients and on eight license renewal applications,” they state.

According to news reports and the regulator’s own notice of proposal, Hawken is accused of misappropriating nearly $2-million from his insurance clients and using those funds for his own personal use.

Hawken was first discovered when his managing general agency and the insurer he was contracted with investigated Hawken’s activities. Around the same time a client also complained to the regulator directly.

It was alleged in both the investigation and in the client complaint, that Hawken offered his clients a bogus investment product before using his client’s investment funds for his own personal use. He is also being sanctioned for falsely declaring for years that he was carrying on business only in the name in which he was licensed.

“The number of affected clients and the significant amount of misappropriated funds is clear evidence that Hawken is incompetent and untrustworthy to transact the insurance business for which his license has been granted,” the notice of proposal in the case states. “As Hawken’s insurance activity is carried out through DIG and given that Hawken is the sole owner and directing mind of DIG, the director is satisfied that DIG will not transact insurance business with honesty and trustworthiness. As such, DIG is not suitable to be licensed under the Act.”