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.
