The Financial Services Regulatory Authority of Ontario (FSRA) has taken enforcement action against Jasneet Singh Bajwa by refusing to renew his life insurance and accident and sickness insurance agent licence and issuing orders that would impose conditions on any mortgage agent licence if he reapplies. FSRA determined Bajwa is no longer suitable to be licensed under the Insurance Act and its regulations, citing false or misleading statements or representations in the solicitation or registration of insurance (Ontario Regulation 347/04, section 17(c)) and a failure to maintain valid errors and omissions insurance (Ontario Regulation 347/04, section 13). The regulator also found false statements on Bajwa’s mortgage agent licence renewal application (Ontario Regulation 409/07, section 10(3) under the Mortgage Brokerages, Lenders and Administrators Act). The orders were issued following a settlement with Bajwa.
Financial Services Regulatory Authority of Ontario 2025-12-18
Financial Services Regulatory Authority of Ontario refuses to renew Jasneet Singh Bajwa’s insurance agent licence and sets conditions for any mortgage agent reapplication
The Financial Services Regulatory Authority of Ontario (FSRA) has refused to renew Jasneet Singh Bajwa's life and accident insurance agent licence and imposed conditions on any future mortgage agent licence applications. Bajwa was found unsuitable under the Insurance Act due to false statements and lack of valid errors and omissions insurance. The enforcement action follows a settlement with Bajwa.