In the Matter of The FINANCIAL INSTITUTIONS ACT (RSBC 1996, c.141) (the “Act”)
and The INSURANCE COUNCIL OF BRITISH COLUMBIA (“Council”)
and BRAUN AND ASSOCIATES LTD. (the “Agency”)
and DARWIN BERNARD PETER BRAUN (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 is the nominee and principal of the Agency;
AND WHEREAS the Licensee is the subject of a Council intended decision regarding allegations of conduct that reflects on the Licensee’s suitability to continue to hold a life agent licence;
AND WHEREAS the Licensee has requested a hearing of Council’s intended decision; AND WHEREAS Council determined that, in light of the current allegations against the Licensee, it is not in the public interest, while the hearing is pending, to allow the Licensee to engage in insurance business as a life agent without being under the direct supervision of a qualified life agent;
AND WHEREAS Council considers the length of time that would be required to hold a hearing of its intent to require the Licensee be under direct supervision, would be detrimental to the due administration of the Act and contrary to the interests of the public;
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Decision and Order under Sections 231 & 238 of the Act Braun and Associates Ltd. and Darwin Bernard Peter Braun LIC-181756C127635R1 and LIC-108413C120488R1 / COM-2016-00012 September 19, 2017 Page 2 of 2
NOW THEREFORE Council orders a condition is imposed on the Licensee’s life agent licence that, within 15 business days of this order, the Licensee must be under the direct supervision of a qualified life agent until such time as the Licensee’s requested hearing is held and Council has had the opportunity to consider the matter in accordance with section 223(4) of the Act. The Licensee’s failure to demonstrate to Council that a qualified life agent has agreed to supervise his insurance activities within the 15 business day timeline will result in the automatic suspension of the Licensee’s life agent licence until he has complied with the licence condition;
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 4H1; alternatively, the Licensee may appeal this order to the Financial Services Tribunal.
Dated in Vancouver, British Columbia, on the 19 Chairperson, Insurance Council of British Columbia
th day of September, 2017. Michael Connors, CIP, CRM