SNC Insurance Co. (Barbados) Inc. and Stop ‘N’ Cash 1000 Inc., both located in Kitchener, Ont., have been ordered to cease and desist conducting insurance business in Ontario, the Financial Services Commission of Ontario said today.

A FSCO investigation found that the two companies are providing insurance as part of financing payroll loans and are not authorized to conduct insurance business in Ontario.

A similar order was issued today by the Financial Institutions Commission of British Columbia. Both orders were part of a coordinated effort.