BR•lTI SH COlUMBIA IN THE MATTER OF THE FINANCIAL INSTITUTIONS ACT R.S.B.C. 1996, C. 141 and CLAUDE WEST and LIFE TRANSFORMATION MINISTRIES INTERNATIONAL
UNDERTAKINGS [FIA 208]
WHEREAS: 1. Virginia, United States of America, based Life Transformation Ministries International (ilL TMI") solicits for and advertises the sale of life insurance in British Columbia wherein LT MI will be a co-beneficiary to the life insurance;
2. LT MI collects the British Columbia resident applications for life insurance; 3. The life insurance was advertised as a benefit of membership in LT MI once applicants pay a $25 membership fee which must accompany the life insurance application;
4. Claude West, a British Columbia resident, on behalf of LT MI solicited the sale of the LT MI life insurance product to approximately 20 other British Columbia residents on the promise of a referral fee from LT MI for each insurance policy sold and;
5. Claude West informs the office of the Superintendent that he has not received any payment of a fee from LT MI nor a copy of an LT MI sourced insurance policy for the policies which he purchased on behalf of he and his family;
6. It appears to the Superintendent that no insurance policies are being provided through the LT MI program;
7. Neither Claude West nor LT MI is licensed to sell and advise with respect to insurance in British Columbia;
Superintendent of Financial Institutions Mailing Address: Web Address: 1200 - 13450 102 Avenue www.ficombc.ca Q)~il Surrey, Be V3T 5X3 (l Telephone: 604953-5300 Facsimile: 604 953-5301 'r-- . Pb
2 8. Claude West has cooperated with the Superintendent's investigation of the matter and stipulates that he has ceased any solicitation, promotion, and advertising and any other insurance business activity with respect to insurance in the province of British Columbia;
THEREFORE Claude West voluntarily undertakes pursuant to section 208 of the Financial Institutions Act, the following:
1. That if he receives any communication from LT MI or any records or payment with regard to insurance policies applied for through the L TMI program he will immediately notify the office of the Superintendent of that fact and he will maintain those records and payment and make them available for review by the office of the Superintendent; and
2. That he will not solicit, promote, advertise, or conduct any other aspect of insurance business in the province of British Columbia without being appropriately licensed or otherwise authorized pursuant to the Financial Institutions Act.
UNDERTAKINGS PROVIDED BY:
UNDERTAKINGS ACCEPTED at the City of Surrey, Province of British Columbia this J·:1 day of October, 2010.
Carolyn Rogers Superintendent of Financial Institutions, Province of British Columbia