The Insurance Council of British Columbia has fined licensee Mark Oliver Kon Yee $1,500 and ordered him to take two remedial courses, for failure to meet the continuing education (CE) requirements for the 2022-23 and two preceding licensing periods.
In December 2023, Yee was audited to determine if he had fulfilled his annual CE requirements as per his annual licence renewal declaration. The audit requested CE records for that licence period, but Yee was unable to demonstrate having completed the required number of credits for 2022-23.
This resulted in a further audit of the 2020-21 and 2021-22 licence periods, for which Yee also could not produce the required CE certificates.
Upon analysis, the Council determined that Yee had failed to obtain the required CE credits for all three of the licensing years.
Council determined there were mitigating factors pertaining to this case, including the full co-operation of Yee and his acknowledgment of the breaches, as well as acceptance of the need to undertake remedial action.
“The Licensee acknowledged the misconduct and responded to Council inquiries in a timely manner. The Licensee understood and accepted that Council would make a determination on misconduct without requiring additional submissions from the Licensee,” said the decision.
As there were no aggravating factors in this situation, Council determined that a fine of $500 per year in breach was warranted under the circumstances.
The decision noted that “As a self-funded regulatory body, Council looks to licensees who have engaged in misconduct to bear the costs of their discipline proceedings, so that those costs are not otherwise borne by British Columbia’s licensees in general. Council notes that in this particular instance, the Licensee’s full cooperation and assistance in expediting the investigation process are important factors to consider when determining if costs should be assessed. In these circumstances, Council has determined that no costs be assessed against the Licensee.”
Yee must pay the $1,500 fine by October 28, 2025, within 90 days of Council’s order. He must also complete the two remedial courses, Insurance Council Rules for Life and/or Accident & Sickness Insurance; and Continuing Education Requirements and Guidelines, by that date. Failure to do so, “will result in the automatic suspension of the Licensee’s licence, and that the Licensee will not be permitted to complete his 2027 annual licence renewal until such time as the Licensee has complied with the conditions listed herein,” said the decision.
