FSRA imposes administrative penalty on Kostyantyn Poshtarenko

Ontario's financial services regulator, FSRA, has imposed an administrative penalty in the amount of $100,000 on Kostyantyn Poshtarenko (Poshtarenko).

Poshtarenko contravened sections 392.2(6) the Insurance Act, R.S.O. 1990, c.I.8, as amended and section 2(1) of Ontario Regulation 347/04 by acting as an insurance agent while not being duly licensed.

Poshtarenko did not request a hearing before the Financial Services Tribunal or contest FSRA’s proposal.

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For media inquiries:

Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]