The Financial Services Regulatory Authority of Ontario (FSRA) has issued an order refusing to issue a life insurance agent licence to Loretto Ifeoma Okafor under Ontario’s Insurance Act. FSRA found Okafor not suitable to hold a licence because she provided false information in her application. The order cites her past conduct as giving reasonable grounds to believe she would not conduct business in accordance with the law and with integrity and honesty, constituting grounds to refuse the licence. Okafor did not request a hearing before the Financial Services Tribunal or contest FSRA’s proposal.
Financial Services Regulatory Authority of Ontario 2025-03-07
Financial Services Regulatory Authority of Ontario refuses to issue a life insurance agent licence to Loretto Ifeoma Okafor
The Financial Services Regulatory Authority of Ontario has denied Loretto Ifeoma Okafor a life insurance agent licence under Ontario’s Insurance Act. The decision was based on Okafor providing false information in her application and concerns about her ability to conduct business lawfully and with integrity. Okafor did not challenge the decision or request a hearing.