TORONTO, June 27, 2022 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Susan Keshen and Michael Stoddart.
FSRA alleges that Susan Keshen carried on business as an insurance agent in a name other than that on her licence contrary to section 401 of the Act. FSRA also alleges that Susan Keshen made false and misleading statements in soliciting or registering insurance contrary to subsection 17(c) of Ontario Regulation 347/04.
FSRA alleges that Michael Stoddart held himself out as an insurance agent contrary to section 401 of the Act. FSRA also alleges Michael Stoddart engaged in unlicenced activity contrary to section 392.2(6) of the Act and section 2(1) of the Ontario Regulation 347/04. FSRA also alleges Michael Stoddart furnished false or misleading statements or representations in order to obtain payment of goods or services contrary to section 447(2)(a.3) of the Act.
FSRA is proposing to revoke the licence of Susan Keshen and impose administrative penalties on Susan Keshen and Michael Stoddart.
Susan Keshen and Michael Stoddart requested a hearing before the Financial Services Tribunal.
FSRA is working to protect consumers through its monitoring and enforcement activities.
FSRA continues to work on behalf of stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca
SOURCE Financial Services Regulatory Authority of Ontario
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