The Financial Services Regulatory Authority of Ontario has refused to renew the insurance agent licence of Noella Caspersz and imposed an administrative penalty of CAD 15,000. The order followed findings that Caspersz directly or indirectly paid compensation to a non-licensee, contrary to section 403 of the Insurance Act, and failed to respond to an FSRA inquiry promptly, explicitly and completely and within the specified manner and period, contrary to sections 442.1(5) and 442.3(3) of the Act. The order was issued as a result of a settlement with Caspersz.
Financial Services Regulatory Authority of Ontario 2025-01-20
Financial Services Regulatory Authority of Ontario refuses to renew Noella Caspersz’s insurance agent licence and levies CAD 15,000 penalty
The Financial Services Regulatory Authority of Ontario has refused to renew Noella Caspersz's insurance agent licence and imposed a CAD 15,000 penalty. This decision follows findings of compensation paid to a non-licensee and failure to respond to an inquiry, violating sections 403, 442.1(5), and 442.3(3) of the Insurance Act. The order was issued following a settlement with Caspersz.