FSRA imposes administrative penalty against Muhammad Bajwa

The Financial Services Regulatory Authority of Ontario (FSRA) issued an order imposing an administrative penalty in the amount of $52,000 on Muhammad Bajwa.

Muhammad Bajwa engaged in unlicensed insurance activity, contrary to section 392.2(6) of the Insurance Act and section 2(1) of Ontario Regulation 347/04. Muhammad Bajwa also represented himself to the public as an insurance agent without a licence, contrary to section 401 of the Insurance Act.

Muhammad Bajwa did not request a hearing or contest FSRA's Notice of Proposal.

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FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

Learn more at www.fsrao.ca.

For media inquiries:

Russ Courtney
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]