The Financial Services Regulatory Authority of Ontario concluded a licensing enforcement action by revoking the licences of Daumier Financial Services Inc., Carmen Munoz Gutierrez and Andres Antonio Hernandez Silva, and by refusing to issue a licence to 1000532009 Ontario Ltd. The orders were issued after the affected parties withdrew their requests for a hearing before the Financial Services Tribunal. FSRA found that Daumier Financial, Munoz Gutierrez and Hernandez Silva contravened Ontario’s Insurance Act and related regulations by making false or misleading statements or representations in the solicitation or registration of insurance, contrary to section 17(c) of Ontario Regulation 347/04. The conduct provided reasonable grounds to believe they, and 1000532009 Ontario Ltd, were not suitable to be licensed under the Act. The regulator discontinued the action against Ana Huang Yu, Maylin Rodriguez Perez and Michael Lue after their licences expired.
Financial Services Regulatory Authority of Ontario 2025-06-12
Financial Services Regulatory Authority of Ontario revokes Daumier Financial Services licences and refuses 1000532009 Ontario Ltd licence over misleading insurance solicitation statements
The Financial Services Regulatory Authority of Ontario revoked the licences of Daumier Financial Services Inc., Carmen Munoz Gutierrez, and Andres Antonio Hernandez Silva, and denied a licence to 1000532009 Ontario Ltd, following their withdrawal of hearing requests. They violated Ontario’s Insurance Act by making false or misleading statements. The regulator discontinued action against Ana Huang Yu, Maylin Rodriguez Perez, and Michael Lue after their licences expired.