Joseph P. Martin

The appellant appealed the revocation of his Level II life insurance agent's licence by the Superintendent of Financial Services.

The revocation followed an Advisory Board hearing regarding the appellant's dishonest conduct, which included borrowing money from a client, failing to repay it, and providing fraudulent statements regarding a supposed investment policy.

The Financial Services Tribunal dismissed the appeal, finding no basis to interfere with the Superintendent's decision, as the hearing was fair and the decision had a reasonable basis.

The appellant appealed a decision of the Director of Licensing and Enforcement revoking his level II life insurance agent's licence.

The revocation followed findings that the appellant had borrowed money from clients, misappropriated funds, forged signatures, and used confidential information for personal loans.

The appellant sought to substitute a one-year suspension for the revocation.

The Financial Services Tribunal dismissed the appeal, finding no unfairness in the initial hearing and concluding that the Director's decision was reasonable and justified given the serious nature of the appellant's conduct.

The Superintendent of Financial Services issued an interim cease and desist order against the applicants for advertising illegal insurance products on their website.

The applicants requested a hearing to challenge the requirement that the corrective website notice specifically name the unlicensed entities involved.

The Financial Services Tribunal upheld the Superintendent's requirement to include the specific names, but modified the notice wording on consent to clarify that the warning was based on advice from the Financial Services Commission of Ontario.

The appellant appealed a decision of the Director of Licensing and Enforcement suspending his level II life insurance licence for 60 days due to his failure to satisfy continuing education requirements and furnishing false information.

At the hearing, the appellant sought to introduce new evidence regarding his mental stress, which the Tribunal refused to admit as it did not meet the conditions for new evidence on appeal.

The Tribunal confirmed the Director's decision but varied the commencement date of the suspension to avoid undue prejudice to the appellant's clientele during the RRSP season.

The appellant appealed a decision suspending his level II life insurance agent licence for 30 days for failing to complete the required 47.5 hours of continuing education and misrepresenting his hours on a renewal application.

The Financial Services Tribunal admitted new evidence showing the appellant had completed additional hours, reducing his shortfall.

The Tribunal upheld the finding that the appellant failed to complete the required hours during the relevant period but reduced the penalty to a one-week licence suspension.