Consensual Agreement and Undertaking (“Agreement”) Bylaw 7(5)(3)(b) between The Complaints and Investigation Committee (“Committee”) of The Life Insurance Council of Saskatchewan (“Council”) and FPB Financial Strategies Inc. (“FPB”) and
Francois Paul Blouin (“Blouin”)
1. FPB acknowledges and agrees that they violated Council Bylaws when: a) they failed to notify Council within 30 days of the commencement of a civil action filed in the Saskatchewan Court of Queen’s Bench on April 26, 2017, contrary to Bylaw 2(1)(4)(c)(iii);
b) they failed to exercise due diligence, resulting in a material mis-statement in an application for licence or report to continue a licence, pursuant to Bylaw 8(2)(d), when:
i. they answered “no” to the question on their OARF dated January 10, 2018 and January 14, 2019 regarding the commencement of any other type of legal action for acts such as theft, mishandling of funds, misrepresentation, fraud, conversion, undue influence or breach of trust.
ii. on January 10, 2018 and January 14, 2019, they declared all statements and answers on their OARF were true and correct
2. Blouin acknowledges and agrees that he violated Council Bylaws when: a) he failed to notify Council within 30 days of the commencement of a civil action filed in the Saskatchewan Court of Queen’s Bench on April 26, 2017, contrary to Bylaw 2(1)(4)(c)(iii);
Consensual Agreement and Undertaking Francois Paul Blouin FPB Financial Strategies Inc.
b) he failed to exercise due diligence, resulting in a material mis-statement in an application for licence or report to continue a licence, pursuant to Bylaw 8(2)(d), when:
i. on March 29, 2018 he answered “no” to the question on his Online Annual Reporting Form (“OARF”) regarding the commencement of any other type of legal action for acts such as theft, mishandling of funds, misrepresentation, fraud, conversion, undue influence or breach of trust.
ii. on March 29, 2018 he declared all statements and answers on the OARF were true and correct.
3. Blouin and FPB’s rights to appear before a Discipline Committee of Council have been explained to them and they fully understand their rights and/or obligations under Council Bylaw 10.
4. Blouin and FPB waive their rights to appear before a Discipline Committee and undertake not to exercise any appeal rights they may have under Council Bylaw 10(3) or the Act as it relates to matters set out in this Agreement.
5. This Agreement does not preclude Council from pursuing any other investigation against Blouin and FPB for activities not identified in this Agreement that may be in violation of Council Bylaws or the Act.
6. Blouin and FPB have been advised by the Committee that it is in their interests to obtain independent legal advice before entering into this Agreement.
a) Blouin and FPB have obtained such independent legal advice and are satisfied with the same, prior to executing this Agreement, or
b) Blouin and FPB have willingly chosen not to obtain such advice prior to executing this Agreement.
7. Blouin and FPB hereby affirm that they have read and understood the terms of this Agreement and are signing it voluntarily and of their own free will.
FPB having waived its rights, undertakes to: Pay a fine in the amount of $1000.00. Blouin having waived his rights, undertakes to: Pay a fine in the amount of $500.00. Blouin and FPB, jointly or severally agree to: 1. Reimburse Council’s investigation costs in the amount of $110.00. 2. Pay all fines and investigative costs within 30 days of receipt of this Agreement, totaling $1610.00. 2
Consensual Agreement and Undertaking Francois Paul Blouin FPB Financial Strategies Inc.
The Committee’s Agreement: The Committee agrees to accept from Blouin and FPB the payment of $1610.00 as full and final resolution of this violation of Council’s Bylaws as outlined in this Agreement.
The Committee further agrees to take no further action against Blouin and FPB for the acknowledged violations of Council’s Bylaws that are set out in this Agreement.
Dated at Saskatoon , in the province of, Saskatoon Originally signed by Francois Blouin FPB Financial Strategies Inc.
Dated at Saskatoon , in the province of, Saskatoon Originally signed by Francois Paul Blouin
Dated at Saskatoon , in the province of, Saskatchewan , this 26 Originally signed by Roderick Baxter, Co-Chair, Complaints and Investigation Committee Life Insurance Council of Saskatchewan
Dated at Saskatoon , in the province of, Saskatchewan , this 29 Originally signed by Stacy Hnatiuk, Co-Chair, Complaints and Investigation Committee Life Insurance Council of Saskatchewan
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 council has the authority to issue a licence.” Disciplinary actions as described are reported on the Insurance Councils of Saskatchewan website and the Canadian Insurance Regulators Disciplinary Actions database.
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, this 18 th day of April , 2019
, this 18 th day of April , 2019
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