FSRA issues notice of proposal against Hong Wei Liao

TORONTO, Feb. 6, 2025 /CNW/ - Ontario's financial services regulator, FSRA, has initiated enforcement action against Hong Wei Liao ("Liao").

FSRA alleges Liao is not suitable to be licensed under the Insurance Act, R.S.O. 1990, c.I.8, as amended (the "Act") and its regulations. Liao is not of good character and reputation or otherwise suitable to receive a licence and has demonstrated incompetence and untrustworthiness to transact the insurance agency business. These are grounds for refusing to renew the licence under sections 4, and 8 of Ontario Regulation 347/04, pursuant to the Act.

FSRA is proposing to refuse to renew the life insurance and accident and sickness agent licence to Liao.

Liao has 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: russ.courtney@fsrao.ca

SOURCE Financial Services Regulatory Authority of Ontario