FSRA issues Notice of Proposal against Sadrudin J. Khushal

The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Sadrudin J. Khushal (Khushal).

FSRA alleges that Khushal is not suitable to hold an insurance agent licence because Khushal’s past conduct affords reasonable grounds for belief that they will not conduct insurance business in accordance with the law and with integrity and honesty, and further that Khushal has made material misstatements or omissions on licensing applications, contrary to section 392.4 of the Insurance Act and section 8 of Ontario Regulation 347/04, respectively.

FSRA is proposing to refuse to renew the insurance agent licence of Khushal. 

Khushal requested a hearing before the Financial Services Tribunal about this 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.

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For media inquiries:

Alex Kvaskov
Communications Officer
Financial Services Regulatory Authority
C: 437-522-9151
Email: [email protected]

Enforcement Actions