In the Matter of The FINANCIAL INSTITUTIONS ACT (RSBC 1996, c.141) (the "Act")
and The INSURANCE COUNCIL OF BRITISH COLUMBIA ("Council")
and KULJIT KAUR P ANNU (the "Licensee")
DECISION AND ORDER UNDER SECTIONS 231 & 238 OF THE ACT
WHEREAS the Licensee currently holds an active life and accident and sickness insurance agent ("life agent") licence;
AND WHEREAS pursuant to section 232 of the Act, Council has undertaken an investigation into whether the Licensee's actions in completing Council's pre-licensing exams bring into question her competency, her ability to act in good faith, and her suitability to hold an insurance licence;
AND WHEREAS Council, after considering information gathered in its investigation, made an intended decision on August 15, 2017, pertaining to whether the Licensee properly demonstrated she is sufficiently competent, able to act in good faith, and is suitable to hold an insurance licence;
AND WHEREAS the Licensee has the right to a hearing of Council's aforementioned intended decision pursuant to section 237 of the Act;
AND WHEREAS in the circumstances, Council determined that until such time as its investigation of the Licensee is concluded 'and a decision has been finalized, it is not in the interest of the public to allow the Licensee to continue to engage in insurance activities as a life agent and that the Licensee's life agent licence be suspended;
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Decision and Order under Sections 231 & 23 8 of the Act Kuljit Kaur Pannu LIC-2017-0004740-ROl August 18, 2017 Page 2 of2
AND WHEREAS Council considers the length of time that would be required to hold a hearing of its intent to suspend the Licensee's life agent licence pursuant to section 231 of the Act would be detrimental to the due administration of the Act and contrary to the interests of the public;
NOW THEREFORE pursuant to sections 231and238 of the Act, Council orders the Licensee's life agent licence is suspended effective the date of this order until such time as Council's investigation of the Licensee is concluded and it has made a final decision on the matter;
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; alternatively, the Licensee may appeal this order to the Financial Services Tribunal.
Dated in Vancouver, British Columbia, on the 18th day of August, 2017 / Michael Connors, CIP, CRM .... ,...,....."" ......... ce Council of British Columbia