Consensual Agreement and Undertaking Between The Complaints and Investigation Committee of The Life Insurance Council of Saskatchewan ( the Committee )
and Zafar Sultana Temuri
The Committee is authorized under Bylaw 7, Section 5, subsection 3, subparagraph (b), to enter into consensual resolutions of complaints.
Bylaw 5, Section 1, subsection 1 reads: The administrator shall, in addition to the requirements for the contents of a register required by the Act and the regulations, record on the register the existence and results of all disciplinary decisions or orders, court orders, alternative dispute resolution agreements, undertakings and mediation agreements involving a licensee or a person to whom the Life Insurance Council of Saskatchewan ("Council") has the authority to issue a licence. Disciplinary actions as described above are reported on the Insurance Councils of Saskatchewan website and the Canadian Insurance Regulators Disciplinary Actions ( CIRDA ) database.
Zafar Sultana Temuri ( Temuri ) acknowledges and agrees that: 1. Temuri violated Council Bylaws when: A. Contrary to Bylaw 8, Section 2 (d) she made a material mis-statement in an application for licence or report to continue a licence;
i. When she failed to disclose on her 2012 Annual Reporting form ( ARF ) that her licence had been suspended by the Authorité Des Marchés Financiers ( AMF ) due to her failure to provide proof of valid Errors and Omissions ( E&O ).
ii. When on September 7, 2012 she declared all statements and answers on her ARF were true and correct.
Consensual Agreement and Undertaking Page 2 iii. When she failed to disclose on her 2013 ARF that she was under investigation for a regulatory offence by the Alberta Insurance Council ( AIC ).
iv. When on August 23, 2013 she declared all statements and answers on her ARF were true and correct; and
B. Contrary to Bylaw 8, Section 2 (g) a licencee may be guilty of misconduct if the licencee: violates any provisions of the Act, the Regulations or the Bylaws;
i. When she failed to notify Council within 30 days of commencement of the 2013 regulatory body proceedings initiated against her by AIC.
• As per Bylaw 2, Section 1, subsection (4)(c)(ii) she failed to notify Council within 30 days of commencement of any professional, occupational or regulatory body proceedings.
2. Her rights to appear before a Discipline Committee of Council have been explained to her and she fully understands her rights and/or obligations under Council Bylaw 10;
3. She waives her rights to appear before a Discipline Committee and undertakes not to exercise any appeal rights she may have under Council Bylaw 10, Section 3 or The Saskatchewan Insurance Act, (the Act) as it relates to matters set out in this Consensual Agreement and Undertaking (Agreement).
4. This Agreement does not preclude the Life Council from pursuing any other investigation against her for activities not identified in this Agreement that may be in violation of Council Bylaws or the Act.
5. She has been advised by the Committee that it is in her interests to obtain independent legal advice before entering into this Agreement.
a. Temuri has obtained such independent legal advice and is satisfied with the same, prior to executing this Agreement, or
b. Temuri has willingly chosen not to obtain such advise prior to executing this Agreement
6. Temuri hereby affirms that she has read and understood the terms of this Agreement, and is signing it voluntarily and of her own free will.
Consensual Agreement and Undertaking Page 3 Temuri, having waived his rights, undertakes to: 1. Pay a fine in the amount of $500.00 2. Reimburse Council s investigation costs in the amount of $330.00 3. Pay all fines and investigative costs within 30 days of receipt of this Agreement. The Committee s Agreement: 1. The Committee agrees to accept from Temuri the payment of $830.00 as full and final resolution of their violation of Council s Bylaws as outlined in this Agreement; and
2. The Committee further agrees to take no further action against Temuri for the acknowledged violations of Council s Bylaws that are set out in this Agreement.
Dated at Mississauga, in the Province of Ontario, this 3rd day of November, 2015. Originally Signed by Zafar Sultana Temuri
Dated at Saskatoon, in the Province of Saskatchewan, this 4th day of November, 2015. Originally Signed by Ian Colborne, Chair, Complaints and Investigation Committee Life Insurance Council of Saskatchewan