TORONTO, Jan. 14, 2026 /CNW/ - The Financial Services Regulatory Authority of Ontario, FSRA, has initiated an enforcement action against Rajesh Narayanan Ramdass Raja (Ramdass Raja).
FSRA alleges that Ramdass Raja is not suitable to be licensed under the Insurance Act, R.S.O. 1990, c.I.8 and its regulations because he repeatedly submitted applications with incorrect or fraudulent information and provided his agent code to allow others to submit fraudulent business in his name, contrary to section 17(c) of Ontario Regulation 347/04.
FSRA is proposing to refuse to renew Ramdass Raja's life insurance and accident and sickness insurance agent licence and to impose an administrative monetary penalty in the amount of $20,000 against Ramdass Raja.
Ramdass Raja 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: [email protected]
SOURCE Financial Services Regulatory Authority of Ontario
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