Continuing education audit leads to flurry of sanctions

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By Kate McCaffery | Nov. 16, 2021, 2:25 p.m.

The Alberta Insurance Council levied sanctions against at least six different agents, alleging the agents failed or refused to provide information requested in a formal demand for information.

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ALBERTA INSURANCE COUNCIL (AIC)

Regulator sanctions agents who failed to respond to demand for information

Agent in the industry one year fined $1,000 for not cooperating with regulator

Regulator levies additional sanctions in case where advisors falsified information

Alberta Insurance Council orders $145,000 civil penalty

Disciplinary Decisions

Agent who defrauded retired couple banned from securities registration

Agency fined $20,000 for repeatedly allowing unlicensed activity

Mutual fund rep fined close to $1.7-million

Missing continuing education, lapsed liability insurance nets $4,000 fine