Permanent Cease and Desist Order Against Lili Tabidze

​REGARDING the Insurance Act, R.S.O. 1990, c. I.8 (“the Act”), as amended, in particular section 441

 

AND REGARDING Lili Tabidze (“Ms. Tabidze”)

 

PERMANENT CEASE & DESIST ORDER

TO:

Lili Tabidze

 

On September 10, 2018, the Superintendent of Financial Services (“Superintendent”) issued a Notice of Proposal to Make a Permanent Cease and Desist Order (“Notice”) and a corresponding report under subsection 441(1) and 441(2)(b) of the Act.

 

Canada Post records confirm that the Notice was delivered to Ms. Tabidze on September 15, 2018.

 

Pursuant to subsection 441(3) of the Act Ms. Tabidze had 15 days after receiving the notice to request in writing that the Financial Services Tribunal (“Tribunal”) hold a hearing.

 

On October 5, 2018, the Registrar of the Tribunal confirmed that no request for hearing was filed by Ms. Tabidze or anyone on her behalf.

 

Pursuant to subsection 441(7) of the Act, if the individual does not request a hearing within the time period allowed, the Superintendent may make an order in accordance with the Notice.

 

ORDER

 

Pursuant to section 441 of the Act, the Superintendent makes a permanent order against Lili Tabidze to:

 

  1. Immediately cease and desist acting as an insurance agent or holding herself out as an insurance agent within the meaning of the Act including transmitting, for a person other than herself, an application for, or a policy of insurance, to an insurer, or offering or assuming to act in the negotiation of such insurance or its continuance or renewal;
  2. Immediately cease and desist soliciting, receiving, or collecting payments, money or anything else of value from any member of the public in exchange for assisting or purporting to assist in the placement or negotiation of an insurance policy or the continuance or renewal thereof; and
  3. Mail to all persons in Ontario, to whom any such insurance policies have been issued through her, a copy of the Cease and Desist order and provide evidence satisfactory to the Superintendent no later than thirty (30) days from the date of the Cease and Desist Order that the mailing was done.

AND TAKE NOTICE THAT pursuant to section 447(2)(b) of the Act any person who fails to comply with any order made under the Act is guilty of an offence. Subsection 447(3) of the Act provides that on conviction for an offence under the Act, the person is liable on a first conviction to a fine of not more than $250,000 and on each subsequent conviction to a fine of not more than $500,000.

 

AND TAKE NOTICE THAT subsection 447(4) of the Act provides that every director, officer and chief agent of a corporation and every person acting in a similar capacity or performing similar functions in an unincorporated association who caused, authorized, permitted or participated in a corporation committing an offence, or who fails to take reasonable care to prevent a corporation from committing an offence, is also guilty of an offence and is liable on first conviction to a fine of not more than $100,000 and on each subsequent conviction a fine of not more than $200,000.

 

Si vous désirez recevoir cet ordre en français, veuillez envoyer votre demande immédiatement à: Adjointe, audiences, Greffe, Commission des services financiers de l’Ontario, 5160 rue Yonge, 14em, Toronto ON M2N 6L9.

 
DATED at Toronto, Ontario, this 17th day of October, 2018.
 
 
Original signed by
 
______________________________
Brian Mills
Superintendent of Financial Services