IN THE MATTER OF THE LIFE INSURANCE COUNCIL OF SASKATCHEWAN (“Council”)
MARKET PRACTICES COMMITTEE (the “Committee”)
RESPECTING
DOLAPO OMOWUNMI AKINSETE (the “Licensee”)
The Committee is authorized under Council’s Bylaw 2, section 2-3, to investigate complaints and adjudicate or mediate disputes respecting alleged non-compliance with The Insurance Act (the “Act”), The Insurance Regulations (the “regulations”) or the Bylaws by applicants, licensees or persons who are required to be licensees pursuant to section 5-31(3)(i) of the regulations, and to make decisions respecting penalties and other charges pursuant to section 5-31(3)(k) of the regulations.
The Compliance and Enforcement department (“Compliance”) of the Insurance Councils of Saskatchewan investigated the actions of the Licensee in failing to provide Council with Continuing Education (“CE”) certificates upon request and also failing to respond to correspondence from Council.
A Notice of Proposed Action dated October 19, 2023 enclosing a Consensual Agreement and Undertaking (“the Agreement”) was served on the Licensee on October 20, 2023. The Agreement notified the Licensee that fines were being sought against her for breaching Council’s Bylaws. The Licensee did not respond to Council in accordance with the timelines set out in the Agreement.
The Licensee subsequently submitted written representations to the Committee pursuant to section 10-11(3)(b) of the Act, setting out why the Licensee felt that the actions identified in the Agreement should not be taken.
Decision DOLAPO OMOWNMI AKINSETE December 21, 2023
On December 21, 2023, in accordance with section 10-11(10)(a) of the Act, the Committee met to consider the Licensee’s written representations regarding the misconduct identified below:
MISCONDUCT AND BYLAW VIOLATIONS BY THE LICENSEE:
Bylaw 4-1 Professional misconduct (2) Without limiting the generality of subsection 4-1(1), a licensee may be guilty of misconduct if the licensee: (u) fails to reasonably respond to inquiries from LICS or ICS.
REASONS FOR THE DECISION:
The Committee reviewed the Investigation Report dated September 11, 2023, and the Licensee’s written representations dated December 4, 2023.
The Licensee stated that during the period when the CE audit was being conducted by Compliance, she was dealing with a number of personal and technological issues which impacted her ability to reply in a timely fashion. She also argued that after those issues were addressed, she provided proof of having met her CE requirement in order to pass the audit.
The Committee notes that the Licensee did meet her CE requirements. However, all licensees are required to respond to correspondence from Council in accordance with the legislation. After considering all of the evidence and submissions in this case, the Committee finds that the Licensee provided an explanation of her conduct during the CE audit process such that a fine is not warranted in the circumstances of this case. However, the Licensee will receive an official Warning Letter for failure to respond to Council, which letter will remain on her record.
THE COMMITTEE HEREBY ORDERS THAT:
The Licensee shall receive an official Warning Letter for the contravention of Bylaw 4-1(2)(u), which is attached as Appendix A to this Decision.
Originally signed January 9, 2024 Dated at Regina, in the Province of Saskatchewan, this __________ day of December, 2023.
____O_r_i_g_i_n_a_l_l_y_ s_i_g_n__e_d_ _b__y_: ______________ Grant Laube, Chair Market Practices Committee Life Insurance Council of Saskatchewan
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Warning Letter _____________________________________________________________________________________
December 21, 2023
Dolapo Omowunmi Akinsete 363 McArthur Crescent Saskatoon, SK S7L 6X2
Dear Ms. Akinsete:
RE: Failure to respond to the Life Insurance Council (“Council”)
The Market Practices Committee (the “Committee”) of Council concluded their review of the allegation that you failed to respond to correspondence from Council as required, contrary to Bylaw 4-1(2)(u) which states:
Bylaw 4-1(2) Without limiting the generality of subsection 4-1(1), a licensee may be guilty of misconduct if the licensee:
(u) fails to reasonably respond to inquiries from LICS or ICS.
Pursuant to the Decision of the Committee made on December 21, 2023, this letter constitutes the Committee’s Warning Letter to you.
You are advised that this Warning Letter will remain on your personal licensing file, and is reportable on all future Annual Reporting Forms.
Should there be any further violations, this letter may be used in future investigations and/or disciplinary actions which may include fines and investigative costs.
Sincerely,
Originally signed by: Grant Laube Market Practices Committee Life Insurance Council of Saskatchewan