TORONTO, Feb. 18, 2022 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) issued an order imposing an administrative penalty in the amount of $52,000 on Muhammad Bajwa.
Muhammad Bajwa engaged in unlicensed insurance activity, contrary to section 392.2(6) of the Insurance Act and section 2(1) of Ontario Regulation 347/04. Muhammad Bajwa also represented himself to the public as an insurance agent without a licence, contrary to section 401 of the Insurance Act.
Muhammad Bajwa did not request a hearing or contest FSRA's Notice of Proposal.
Read FSRA's Order here
Read the Notice of Proposal here
Learn more:
FSRA is working to protect consumers through its monitoring and enforcement activities.
FSRA continues to work on behalf of stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca.
SOURCE Financial Services Regulatory Authority of Ontario
FOR MEDIA INQUIRIES: Russ Courtney, Sr. Media Relations and Digital Officer, Financial Services Regulatory Authority, C: 437-225-8551, Email: [email protected]
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