The Financial Services Regulatory Authority of Ontario has imposed an administrative penalty totalling CAD 80,000 on Gurpreet Singh Ghuman for acting as a life insurance agent without being duly licensed. The conduct was found to contravene section 392.2(6) of Ontario’s Insurance Act, and the order was issued after Ghuman withdrew his request for a hearing before the Financial Services Tribunal.
Financial Services Regulatory Authority of Ontario 2025-11-13
Financial Services Regulatory Authority of Ontario imposes CAD 80,000 administrative penalty on Gurpreet Singh Ghuman for unlicensed life insurance activity
The Financial Services Regulatory Authority of Ontario has fined Gurpreet Singh Ghuman CAD 80,000 for operating as a life insurance agent without a license, violating section 392.2(6) of Ontario’s Insurance Act. The penalty was imposed following Ghuman's withdrawal of his hearing request before the Financial Services Tribunal.