REGARDING the Insurance Act, R.S.O.,1990,
C. I.8, as amended, (“Act”) in particular
sections 441 and 393(23),
AND REGARDING a Cease and Desist Order
against David Spektor (“Spektor”)
CEASE AND DESIST ORDER
David Spektor has committed an unfair and deceptive act or practice by acting as an agent without a licence contrary to section 393(23) of the Act. The particulars are set out in Schedule “A” attached to, and forming part of this Order. Pursuant to written Minutes of Settlement also attached to, and forming part of this Order, Spektor has consented to the issuance of an Order by the Superintendent requiring him to cease and desist acting as an agent without a licence.
The Superintendent Hereby Orders that Spektor:
1. Immediately cease and desist accepting funds from persons in Ontario or elsewhere for the purpose of putting in place automobile insurance policies on vehicles owned by persons other than Spektor.
2. Refrain from contacting any insurance company directly or indirectly for the purpose of putting in place insurance on vehicles, property or other things of value that do not belong to Spektor.
Take Notice That section 447(2)(b) of the Insurance Act provides that any person who fails to comply with any Order made under the Insurance Act is guilty of an offence, and section 447(3) provides that such person is liable on a first conviction to a fine of not more than $100,000 and on each subsequent conviction to a fine of not more than $200,000.
ISSUED AT the City of Toronto this day of August 2005.
Chief Executive Officer
and Superintendent of Financial Services (Acting)
10 Whitelodge Crescent
Richmond Hill ON L1C 8Z8