The Life Insurance Council of Saskatchewan has published a consensual agreement and undertaking between the council’s market practices committee and Ivyanne (Ivy) Francisco. In it the council notes that it is a licensee’s obligation to retain continuing education certificates for a minimum of four years in the event of an audit.
“The licensee (Francisco) acknowledges and agrees that she received the notice of a proposed action,” the agreement and undertaking states. “The licensee acknowledges and agrees that she is guilty of misconduct.”
Without getting into the specifics of the case, the regulator also notes that licensees are also required to earn a minimum of 15 credit hours of CE in each annual reporting period. Francisco waived her right to make a written submission to the committee. The regulator in turn fined Francisco $300 and ordered her to pay the costs of the investigation, totalling $330.
