The Financial Services Regulatory Authority of Ontario (FSRA) has reached a settlement with Cheng (Kevin) Qi and Hui Wen (Polly) Liu that permits them to surrender their insurance agent licences under Ontario’s Insurance Act. FSRA found that Qi and Liu demonstrated incompetence and untrustworthiness to transact the insurance agency business for which their licences were granted and are no longer suitable to be licensed, as contemplated by subsection 392.4(1) of the Insurance Act and subsection 8(d) of Ontario Regulation 347/04. The surrender was implemented through an FSRA order issued as a result of the settlement.
Financial Services Regulatory Authority of Ontario 2025-03-06
Financial Services Regulatory Authority of Ontario permits Cheng (Kevin) Qi and Hui Wen (Polly) Liu to surrender insurance agent licences under settlement
The Financial Services Regulatory Authority of Ontario (FSRA) has settled with Cheng (Kevin) Qi and Hui Wen (Polly) Liu, allowing them to surrender their insurance agent licences under Ontario’s Insurance Act. FSRA determined that Qi and Liu were incompetent and untrustworthy, rendering them unsuitable for licensing. The surrender was formalized through an FSRA order following the settlement.