TORONTO, March 7, 2023 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Vineet Anand (Anand).
FSRA alleges that Anand failed to disclose to a client or prospective client conflicts of interest or potential conflicts of interest, contrary to section 16 of Ontario Regulation 347/04. FSRA alleges that Anand is not suitable for licensing on the basis that Anand's conduct affords reasonable grounds for belief that he will not conduct insurance business in accordance with the law and with integrity and honesty.
FSRA is proposing to revoke the licence of Anand and impose administrative penalties in the total amount of $50,000 on Anand.
Anand has requested a hearing before the Financial Services Tribunal.
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.
FOR MEDIA INQUIRIES:
Russ Courtney
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]
SOURCE Financial Services Regulatory Authority of Ontario
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