The Financial Services Regulatory Authority of Ontario issued a notice of proposal against Chintankumar Narendra Thakkar, initiating enforcement action and proposing an administrative penalty of CAD 30,000. FSRA alleges Thakkar acted as an insurance agent by transmitting insurance applications to an insurer and charging a fee while not duly licensed, contrary to section 392.2(6) of Ontario’s Insurance Act. Thakkar has requested a hearing before the Financial Services Tribunal regarding the proposal.
Financial Services Regulatory Authority of Ontario 2026-02-03
Financial Services Regulatory Authority of Ontario proposes CAD 30,000 penalty against Chintankumar Narendra Thakkar for alleged unlicensed insurance agent activity
The Financial Services Regulatory Authority of Ontario has proposed an enforcement action against Chintankumar Narendra Thakkar, including a CAD 30,000 penalty, for allegedly acting as an unlicensed insurance agent in violation of Ontario’s Insurance Act. Thakkar has requested a hearing before the Financial Services Tribunal.