In the Matter of the FINANCIAL INSTITUTIONS ACT (RSBC 1996, c.141) (the “Act”)
and the INSURANCE COUNCIL OF BRITISH COLUMBIA (“Council”)
and ALVINDER SINGH GILL (the “Licensee”)
DECISION AND ORDER UNDER SECTIONS 231 & 238 OF THE ACT
WHEREAS the Licensee currently holds a life and accident and sickness insurance agent (“Life Agent”) licence in British Columbia, and has been licensed since July 19, 2001;
AND WHEREAS on September 16, 2020, Council received a complaint involving serious allegations of financial fraud by the Licensee that allegedly resulted in significant monetary losses by certain of the Licensee’s former clients;
AND WHEREAS the alleged fraudulent actions occurred from approximately 2010 through to 2020 while the Licensee held a Life Agent licence in British Columbia;
AND WHEREAS, as a result of the allegations, the insurer with which the Licensee was most recently affiliated has withdrawn the Licensee’s authority to represent that insurer;
AND WHEREAS the allegations have been reported to law enforcement; AND WHEREAS Council staff are conducting an investigation with regard to the Licensee’s suitability to hold a licence;
AND WHEREAS, based on the nature of the allegations against the Licensee, Council believes the Licensee represents a risk to the public such that his licence should remain suspended under sections 231 and 238 of the Act while the investigation is underway and until Council determines the Licensee’s suitability and issues further orders, if any;
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Decision and Order under Sections 231 & 238 of the Act Alvinder Singh Gill LIC-149986C88032R1/COM-2020-00130 October 20, 2020 Page 2 of 2
AND WHEREAS Council considers the length of time it would take to address this matter through an intended decision, pursuant to section 231 of the Act, would be detrimental to the due administration of the Act;
NOW THEREFORE Council orders that the Licensee's Life Agent licence be suspended pursuant to sections 231 and 238 of the Act, effective the date of this order, until such time as:
1. Council staff’s investigation is complete; and 2. Council has determined the Licensee’s suitability to hold a licence and issued further orders, if any, under the Act.
TAKE NOTICE that, pursuant to section 238 of the Act, the Licensee has the right to require a hearing before Council on this suspension 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 20th day of October, 2020.
_________________________________________ Janet Sinclair, Executive Director Insurance Council of British Columbia