CONSENSUAL AGREEMENT AND UNDERTAKING (“Agreement”)
Between
THE MARKET PRACTICES COMMITTEE (“Committee”) of
THE LIFE INSURANCE COUNCIL OF SASKATCHEWAN (“Council”)
And Antonie Du Plessis (the “Licensee”)
The Licensee acknowledges and agrees that he received the Notice regarding a proposed action pursuant to Section 10-11 of The Insurance Act (the “Act”), and the reasons therefor from Council, dated January 5, 2023.
The Licensee acknowledges and agrees that he is guilty of misconduct by violating Council Bylaws as follows:
Bylaw 3-1 Licences and obligations
(4) A licence imposes on the licensee, and if a business, the designated representative, obligations including but not limited to, the following: (c) to immediately notify LICS of: (i) the failure to maintain the prescribed financial security requirements (errors and omissions insurance or the bond), pursuant to sections 5-10 and 5-23 of the regulations;
Bylaw 4-1 Professional misconduct
(1) For the purposes of the Act, the regulations and these bylaws, professional misconduct is a question of fact but includes any matter, conduct or thing, whether or not disgraceful or dishonorable that: (c) is a breach of the Act, the regulations or these bylaws.
Consensual Agreement and Undertaking Antonie Du Plessis
The Licensee acknowledges and agrees that: a. His right to make a written submission to or appear before the Committee at an oral hearing to make representations as to why this action should not be taken has been explained to him and that he fully understands his rights and/or obligations.
b.
c.
d.
e.
The Licensee waives his right to make a written submission to the Committee or to appear before the Committee at an oral hearing and chooses to resolve this matter by way of this Agreement and accordingly waives any right of appeal with respect to this action.
This Agreement does not preclude Council from pursuing any other investigation and/or sanctions against the Licensee for activities not identified in this Agreement that may be in violation of the Act, the regulations or Council Bylaws.
The Licensee has been advised that it is in his best interest to obtain independent legal advice before entering into this Agreement. The Licensee has either:
a. obtained such independent legal advice prior to executing this Agreement; or b. has willingly chosen not to obtain such advice prior to executing this Agreement. The Licensee hereby affirms that he has read and understands the terms of this Agreement and is signing it voluntarily and of his own free will.
The Licensee, having waived his rights, accepts and undertakes to fulfill the sanctions imposed by the Committee as follows:
a.
b.
c.
Pay a penalty in the amount of $300.00
Pay the costs of investigation in the amount of 4 hours x $110.00 = $440.00
Pay the fine and costs, in the total amount of $740.00 within thirty (30) days from the date of this Agreement.
Consensual Agreement and Undertaking Antonie Du Plessis
The Committee’s Agreement: Upon fulfillment of the sanctions imposed, the Committee agrees this to be the full and final resolution of the violations of Council’s Bylaws by the Licensee as outlined in this Consensual Agreement and Undertaking
_______O__r_ig__in__a_l_ly_ _s_i_g_n_e__d_ _b_y_:_ A__n_t_o__n_ie__ D__u_ _P_l_e_s_s_i_s________ Antonie Du Plessis
___J_a_n_u__a_r_y_ _4_, _2_0__2_3_____________________ Date
______O_r_i_g_i_n_a_l_l_y_ s_i_g_n__e_d_ _b_y__ G__r_a_n_t_ _L_a_u__b_e_:_______________ ____Ja__n_u_a__ry__ 5__, _2_0_2__3____________________ THE MARKET PRACTICES COMMITTEE Date Life Insurance Council of Saskatchewan
Penalties affecting insurance intermediary’s licence
5-39(3) If a penalty imposed against a holder of an insurance intermediary’s licence pursuant to subsection (2) is not paid within 30 days after the holder is served with the written notice of the penalty and the decision of the Superintendent is not appealed, the licence is automatically suspended immediately following the last date for paying the penalty or appealing the decision, whichever is later, and remains suspended until the penalty is paid or the licence expires.