TORONTO, June 28, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has refused to renew the Life Insurance and Accident Sickness Insurance Agent licence of Manpreet Kaur Dhillon ("Dhillon"), and confirmed summary administrative penalty of $1,000.

Dhillon contravened sections 14 and 8(b) of Ontario Regulation 347/04 under the Insurance Act by failing to complete continuing education requirements. Further, Dhillon demonstrated untrustworthiness to conduct the insurance agency business, contrary to subsections (c) and (d) of section 8 of Ontario Regulation 347/04by making material misstatements on the 2021 licensing application and submitting falsified continuing education certificates.

FSRA issued this order as a result of a decision of the Financial Services Tribunal ("Tribunal") dated May 24, 2024, where the Tribunal upheld the Order requiring Dhillon to pay the $1,000 summary administrative penalty and directed the Chief Executive Officer to carry out the Notice of Proposal to refuse to renew Dhillon's licence.

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For media inquiries:

Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: russ.courtney@fsrao.ca

SOURCE Financial Services Regulatory Authority of Ontario