FSRA takes enforcement action against Andi Efovia

The Financial Services Regulatory Authority of Ontario (FSRA), has imposed a compliance order on Andi Efovia (Efovia) to cease and desist from conducting insurance business in Ontario and imposed administrative penalties in the total amount of $25,000 on Efovia.

Efovia contravened the Insurance Act, R.S.O. 1990, c. I.8, as amended (the Act) and regulations as follows:

• By acting as an insurance agent while not being duly licensed, contrary to section 392.2(6) of the Act and section 2(1) of Ontario Regulation 347/04; and
• By representing himself and/or holding himself out to the public as an insurance agent while not being duly licensed, contrary to section 401 of the Act.

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

Learn more:

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

For media inquiries:

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