TORONTO, Aug. 22, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Ulrich Fabrice Avognon (Avognon).
FSRA alleges that Avognon contravened the Insurance Act, R.S.O. 1990, c.I.8, as amended, and its regulations by committing an unfair or deceptive act or practice, namely being paid or seeking payment for goods or services in connection with a claim under a contract of insurance which were not provided to a claimant or were provided in a substantially deficient manner contrary to section 6(1) of the Unfair or Deceptive Acts or Practices Rule.
FSRA is proposing to impose a compliance order and an administrative penalty of $100,000 against Avognon.
Avognon 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
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