TORONTO, May 2, 2025 /CNW/ - Ontario's financial services regulator, FSRA, has imposed an administrative penalty of $50,000 and a compliance order on Daniel Emerson Tiffin (Tiffin).
FSRA issued a Notice of Proposal on January 25, 2023. Tiffin requested a hearing before the Financial Services Tribunal (Tribunal).
"Consumers deserve advice from educated and licenced insurance professionals who act with integrity," said Elissa Sinha, Director of Litigation & Enforcement at FSRA.
"As a regulator, we will take action to uphold these high standards in order to build the public's trust and confidence in the insurance industry."
The Tribunal found that Tiffin acted as an insurance agent without a licence and used licensed agents as "fronts" to receive commissions. Tiffin was previously licensed under the Act.
After becoming unlicensed, Tiffin gave former clients insurance advice including where to transfer their policies and which new policies to select.
He recruited licensed insurance agents to act as "fronts" by signing and submitting the paperwork.
FSRA has separately taken enforcement action against the fronting agents including licence revocations and administrative penalties.
The Tribunal held that the administrative penalty and compliance order were appropriate for Tiffin.
Tiffin is prohibited from acting as an insurance agent, from collecting commissions, directly or directly, on insurance business in Ontario, and from engaging in the business of insurance in Ontario.
FSRA issued this order as a result of a decision of the Financial Services Tribunal in Daniel Emerson Tiffin v. Ontario (CEO of FSRA), 2025 ONFST 19.
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: [email protected]
SOURCE Financial Services Regulatory Authority of Ontario
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