FSRA issues Notice of Proposal to Revoke and to Refuse to Issue Licence against Daumier Financial Services Inc., 1000532009 Ontario Ltd., Carmen Munoz Gutierrez, Ana Huang Yu, Andres Antonio Hernandez Silva, Maylin Rodriguez Perez, and Michael Lue

Ontario’s financial services regulator, FSRA, has initiated enforcement action against Daumier Financial Services Inc. o/a Daumier Financial Services Ltd. (Daumier Financial), 1000532009 Ontario Ltd., Carmen Munoz Gutierrez (Munoz Gutierrez), Ana Huang Yu (Huang Yu), Andres Antonio Hernandez Silva (Hernandez Silva), Maylin Rodriguez Perez (Rodrguez Perez), and Michael Lue (Lue).

FSRA alleges that Daumier Financial, Munoz Gutierrez, Huang Yu, Hernandez Silva, Rodriguez Perez, and Lue contravened the Insurance Act, R.S.O. 1990, c.I.8, as amended (the Act), and its regulations by making false or misleading statements or representations in the solicitation or registration of insurance contrary to section 17(c) of Ontario Regulation 347/04. This conduct affords reasonable grounds for the belief that these individuals are not suitable to be licensed under the Act. FSRA is proposing to revoke the licenses of Daumier Financial, Munoz Gutierrez, Huang Yu, Hernandez Silva, Rodriguez Perez, and Lue.

FSRA is further proposing to refuse to issue license to 1000532009 Ontario Ltd. as its sole director and intended designated agent is Munoz Gutierrez.

All parties have requested a hearing before the Financial Services Tribunal about this proposal.

FSRA has imposed an interim suspension Order on the parties, which has been extended until the hearing has concluded.

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Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities. 

For media inquiries:

Ashley Legassic
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 647-719-8426
Email: [email protected]