FSRA issues notice of proposal against Stephanie Vaarsi

TORONTO, Nov. 5, 2024 /CNW/ - Ontario's financial services regulator, FSRA has initiated enforcement action against Stephanie Vaarsi.

FSRA alleges that Stephanie Vaarsi ("Vaarsi") is not suitable to be licensed as a life insurance and accident and sickness insurance agent. Vaarsi is not of good character and reputation or otherwise suitable to receive a licence. Further, Vaarsi made a material misstatement or omission in the application for a licence and demonstrated incompetence and untrustworthiness to transact the insurance agency business. These are grounds for refusing to renew the licence under sections 4 and 8 of Ontario Regulation 347/04, pursuant to the Insurance Act, R.S.O. 1990, c.I.8, as amended.

FSRA is proposing to refuse to renew the life insurance and accident and sickness agent licence to Vaarsi.

Vaarsi has requested a hearing before the Financial Services Tribunal about this proposal.

Learn more:

Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities. 

For media inquiries:

Russ Courtney
Senior Manager of Media Relations
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]

SOURCE Financial Services Regulatory Authority of Ontario