The Financial Services Regulatory Authority of Ontario (FSRA) has imposed an administrative penalty of CAD 100,000 and issued a compliance order against Ulrich Fabrice Avognon. FSRA found that Avognon sought payment for goods or services connected to an insurance claim that were not provided to a claimant or were provided in a substantially deficient manner, contrary to section 6(1) of the Unfair or Deceptive Acts or Practices Rule and the Insurance Act. The order was issued after Avognon withdrew his request for a hearing before the Financial Services Tribunal.
Financial Services Regulatory Authority of Ontario 2025-02-13
Financial Services Regulatory Authority of Ontario imposes CAD 100,000 penalty and compliance order on Ulrich Fabrice Avognon
The Financial Services Regulatory Authority of Ontario imposed a CAD 100,000 penalty and issued a compliance order against Ulrich Fabrice Avognon. He sought payment for goods or services related to an insurance claim that were not provided or substantially deficient, violating section 6(1) of the Unfair or Deceptive Acts or Practices Rule and the Insurance Act. The order followed Avognon's withdrawal of his hearing request before the Financial Services Tribunal.