In the Matter of the FINANCIAL INSTITUTIONS ACT, RSBC 1996, c.141 (the “Act”)
and the INSURANCE COUNCIL OF BRITISH COLUMBIA (“Council”)
and TIMOTHY TIN YAT LI (the “Licensee”)
ORDER As Council made an intended decision on September 11, 2018, pursuant to sections 231, 236, and 241.1 of the Act; and
As Council, in accordance with section 237 of the Act, provided the Licensee with written reasons and notice of the intended decision dated October 4, 2018; and
As the Licensee has not requested a hearing of Council’s intended decision within the time period provided by the Act;
Under authority of sections 231, 236, and 241.1 of the Act, Council orders: 1. The Licensee’s Level 1 general insurance salesperson licence is suspended for a period of one year, commencing on October 19, 2018 and ending at midnight on October 18, 2019.
2. A condition is imposed on the Licensee’s Level 1 general insurance salesperson licence that requires the Licensee to successfully complete an ethics course, as approved by Council, by no later than January 17, 2019.
3. The Licensee is assessed Council’s investigative costs of $375.00, to be paid by no later than January 17, 2019.
4. If the Licensee does not complete the required course and pay the ordered investigative costs within the stipulated time frame, the Licensee will not be permitted to complete his 2019 licence filing until such time as the course is successfully completed and the investigative costs are paid in full.
This order takes effect on the 19 th day of October, 2018. _________________________________________ Ken Kukkonen Chairperson, Insurance Council of British Columbia