TORONTO, July 23,
2024 /CNW/ - Ontario's financial services regulator, FSRA,
has initiated enforcement action against Victor Ferreira and Ferreira Insurance
& Investment Concepts Inc.
FSRA alleges that Victor
Ferreira ("Ferreira") and Ferreira Insurance &
Investment Concepts Inc. ("FIIC") are not suitable to be licensed
under the Insurance Act, R.S.O. 1990, c.I.8, as amended
(the "Act") and its regulations, because they:
- Failed to pay administrative monetary penalties issued against
them.
- Made material misstatements or omissions in applications for a
licence.
FSRA is proposing to refuse to renew the life insurance agent
licence issued to Ferreira and the corporate licence of FIIC.
Ferreira and FIIC have requested a hearing before the Financial
Services Tribunal about this 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
Sr. Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: russ.courtney@fsrao.ca
SOURCE Financial Services Regulatory Authority of Ontario