The Financial Services Regulatory Authority of Ontario issued a notice of proposal initiating enforcement action against Hardeep Minhas and proposing a CAD 3,000 administrative penalty for allegedly offering an insurance rebate as an incentive to purchase an insurance product. FSRA alleges Minhas contravened Ontario’s Insurance Act and its regulations by paying a rebate to a person applying for insurance, contrary to paragraph (v) of subsection 7(1) of the Unfair or Deceptive Acts or Practices rule. Minhas has requested a hearing before the Financial Services Tribunal in relation to the proposal.
Financial Services Regulatory Authority of Ontario 2025-10-31
Financial Services Regulatory Authority of Ontario proposes CAD 3,000 administrative penalty against Hardeep Minhas for alleged insurance rebate inducement
The Financial Services Regulatory Authority of Ontario has initiated enforcement action against Hardeep Minhas, proposing a CAD 3,000 penalty for allegedly offering an insurance rebate as an incentive. Minhas is accused of violating Ontario’s Insurance Act and its regulations. A hearing before the Financial Services Tribunal has been requested by Minhas.