Aisha Amode

The applicant, a licensed life insurance agent, requested a hearing after the Superintendent of Financial Services issued a Notice of Proposal to impose a $2,000 administrative monetary penalty for failing to maintain errors and omissions insurance for over 14 months.

The applicant admitted to the failure but argued she was unaware of the penalty and had not conducted business during that time.

The Financial Services Tribunal found that the penalty was appropriate to promote compliance and deter others, noting that the applicant saved on premiums during the uninsured period.

The Tribunal ordered the imposition of the $2,000 penalty as proposed.

The applicant applied for a mortgage agent's licence.

The Superintendent of Financial Services issued a Notice of Proposal to refuse the application based on the applicant's prior criminal conviction for identity theft while employed at a bank.

The applicant requested a hearing before the Financial Services Tribunal.

Applying the Henderson criteria, the Tribunal found that the applicant had demonstrated a consistent and prolonged pattern of reformed behaviour since the misconduct occurred over six years prior.

The Tribunal ordered the Superintendent to issue the licence subject to strict supervisory conditions.