FSRA refuses to renew the insurance agent licence of Sadrudin Khushal

Ontario's financial services regulator, FSRA, has refused to renew the insurance agent licence of Sadrudin Khushal (“Khushal”).

Khushal is not suitable to hold a licence because he has contravened Ontario Regulation 347/04 by providing material misstatements or omissions in his applications for an insurance agent licence and because he demonstrated incompetence or untrustworthiness to transact the insurance agency business for which the licence has been granted.

FSRA issued this order as a result of a decision of the Financial Services Tribunal, dated February 13, 2024 where the Tribunal directed FSRA to carry out the Notice of Proposal to Refuse to Renew without changes.

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For media inquiries:

Ashley Legassic
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 647-719-8426
Email: [email protected]

Enforcement Actions