FSRA issues notice of proposal against Tejpal Mann and Daniel Emmerson Tiffin and imposes an administrative penalty on Daniel Emmerson Tiffin
FSRA alleges that Mann contravened the Insurance Act (Act) by directly or indirectly paying or allowing compensation to be paid to a non-licensee contrary to section 403 of the Act. FSRA is proposing to impose an administrative penalty of $20,000 on Mann.
Tiffin contravened the Act and its regulations by acting as an insurance agent without a licence contrary to subsection 2(1) of Ontario Regulation 347/04. FSRA has imposed an administrative penalty of $50,000 on Tiffin.
Mann requested a hearing before the Financial Services Tribunal. Tiffin did not request a hearing in relation to this Notice of Proposal.
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.
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Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
Email: [email protected]