In the Matter of The FINANCIAL INSTITUTIONS ACT (RSBC 1996, c. 141) (the "Act")
and The INSURANCE COUNCIL OF BRITISH COLUMBIA ("Council")
and JASPREET SINGH MAHI (the "Licensee")
DECISION AND ORDER UNDER SECTIONS 231 & 238 OF THE ACT
WHEREAS the Licensee obtained a life and accident and sickness insurance agent licence in September 2005;
AND WHEREAS in August 2014, the Licensee notified Council that he intended to engage in other employment as a Canada Border Services Officer ("Other Employment"), in addition to his activities as a life and accident and sickness insurance agent;
AND WHEREAS Council considered the Licensee's Other Employment and concluded that any individual who has the authority of a Peace Officer represents a potential for a conflict of interest and gives rise to a reasonable possibility of undue influence and, as a consequence, is contrary to the best interests of the public;
AND WHEREAS Council determined, pursuant to section 231 of the Act, that if the Licensee intended to continue with the Other Employment, he would not be suitable to hold an insurance licence;
AND WHEREAS Council communicated its intended decision to the Licensee, in writing, on January 15, 2015;
AND WHEREAS, in response to Council's intended decision, the Licensee requested a hearing, pursuant to section 23 7 of the Act;
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Decision and Order under Sections 231 & 23 8 of the Act J aspreet Singh Mahi LIC-164536C99974Rl August 19, 2016 Page 2 of2
AND WHEREAS Council has attempted to contact the Licensee to arrange a date for a hearing but has not received a response from the Licensee;
AND WHEREAS the Licensee has not notified Council that he has ceased the Other Employment;
AND WHEREAS Council considers the length of time that has passed since its intended decision to be excessive and detrimental to the due administration of the Act;
NOW THEREFORE Council orders that the Licensee's life and accident and sickness insurance licence be suspended, pursuant to sections 231 and 23 8 of the Act, effective the date of this order, until such time as a hearing has been held and a decision made;
TAKE NOTICE that pursuant to section 238 of the Act, the Licensee has the right to require a hearing on this order before Council by delivering written notice within 14 days of receipt of this order to Council at Suite 300, 1040 West Georgia Street, Vancouver, British Columbia, V6E 4Hl; or, alternatively, the Licensee may appeal this order to the Financial Services Tribunal.
Dated in Vancouver, British Columbia, on the 19th day of August, 2016.
Chairperson, Insurance Council of British Columbia
Eric Yung