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 TMG The Mortgage Group Inc. o/a TMG The Mortgage Group (“TMG”)
1. TMG acknowledges and agrees that it violated Council Bylaws when: a) contrary to Bylaw 8(1)(a) it acted contrary to the best interests of the consumer or licensees or insurance companies.
b) contrary to Bylaw 8(2)(g) it violated provisions of the Act, the regulations or the bylaws when it:
i. acted contrary to Schedule A, Part II(5)(1) when it failed to maintain registration with Corporate Registry of the ISC.
2. TMG’s right to appear before a Discipline Committee of Council has been explained and it fully understands its rights and/or obligations under Council Bylaw 10;
3. TMG waives its right to appear before a Discipline Committee and undertakes not to exercise any appeal rights it may have under Council Bylaw 10, Section 3 or The Saskatchewan Insurance Act, (“Act”) as it relates to matters set out in this Agreement.
4. This Agreement does not preclude Council from pursuing any further investigation against TMG for future activities not identified in this Agreement that may be in violation of Council Bylaws or the Act.
5. TMG has been advised by the Committee that it is in its interests to obtain independent legal advice before entering into this Agreement. TMG has either:
a) obtained such independent legal advice and is satisfied with the same, prior to executing this Agreement; or
b) willingly chosen not to obtain such advice prior to executing this Agreement. 6. TMG hereby affirms that it has read and understand the terms of this Agreement and is signing it voluntarily and of its own free will.
Consensual Agreement and Undertaking TMG The Mortgage Group Inc. o/a TMG The Mortgage Group TMG, having waived its rights, undertakes to: 1. Pay all amounts within 30 days of receipt of this Agreement, totaling $830. 2. TMG will ensure E&O is in place while it holds an active insurance licence in Saskatchewan. The Committee’s Agreement: 1. The Committee agrees to accept from TMG the payment of $830 as full and final resolution of this violation of Council’s Bylaws as outlined in this Agreement.
2. The Committee further agrees to take no further action against TMG for the acknowledged violations of Council’s Bylaws that are set out in this Agreement.
Dated at Regina , in the province of, Saskatchewan , this 28 (Town/City) Originally signed by Ken (Bud) Jorgenson Signature On behalf of TMG The Mortgage Group Inc. o/a TMG The Mortgage Group
Dated at Saskatoon , in the province of, Saskatchewan , this 8 (Town/City) 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 10 (Town/City) 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 (CIRDA) database.
2
th day of June , 2019 (Month) (Year) Print name and title
th day of July , 2019 (Month) (Year)
th day of July , 2019 (Month) (Year)