FSRA issues compliance orders and imposes administrative penalties against Sobenna Green, Jermaine Scott and Pinyatas Lounge Inc.
The Financial Services Regulatory Authority of Ontario (FSRA) issued compliance orders and imposed administrative penalties on Sobenna Green (Green) in the amount of $50,000, Jermaine Scott (Scott) in the amount of $20,000 and Pinyatas Lounge Inc. (Pinyatas) in the amount of $20,000.
Green contravened the Insurance Act (Act) as follows:
- by acting as an agent without being licensed contrary to subsection 2(1) of Ontario Regulation 347/04
- by charging unstipulated fees contrary to subsection 1(8) of Ontario Regulation 7/00
- by making false or misleading statements or representations to an insurer contrary to paragraph 447(2)(a.1) of the Act
- by furnishing false, misleading or incomplete information to FSRA contrary to paragraph 447(2)(a) of the Act
Scott contravened the Act as follows:
- by acting as an agent without being licensed contrary to subsection 2(1) of Ontario Regulation 347/04
- by charging unstipulated fees contrary to subsection 1(8) of Ontario Regulation 7/00
- by making false or misleading statements or representations to an insurer contrary to paragraph 447(2)(a.1) of the Act
Pinyatas contravened the Act by charging unstipulated fees, contrary to subsection 1(8) of Ontario Regulation 7/00.
Green, Scott and Pinyatas did not request a hearing or contest FSRA’s proposal.
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FSRA is working to protect consumers through its monitoring and enforcement activities.
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]