FSRA issues notice of proposal to refuse to renew licence against Victor Ferreira and Ferreira Insurance & Investment Concepts Inc.

TORONTO, July 23, 2024 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Victor Ferreira and Ferreira Insurance & Investment Concepts Inc.

FSRA alleges that Victor Ferreira ("Ferreira") and Ferreira Insurance & Investment Concepts Inc. ("FIIC") are not suitable to be licensed under the Insurance Act, R.S.O. 1990, c.I.8, as amended (the "Act") and its regulations, because they:

• Failed to pay administrative monetary penalties issued against them.
• Made material misstatements or omissions in applications for a licence.

FSRA is proposing to refuse to renew the life insurance agent licence issued to Ferreira and the corporate licence of FIIC.

Ferreira and FIIC have 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
Sr. Manager of Media Relations 
Financial Services Regulatory Authority 
C: 437-225-8551 
Email: [email protected]

SOURCE Financial Services Regulatory Authority of Ontario