Consensual Agreement and Undertaking Between Graham Kirk Smith and The Complaints and Investigation Committee (Committee) Of The Life Insurance Council of Saskatchewan (LICS)
Smith acknowledges and agrees that: 1. He violated the Life Insurance Council (Council) Bylaw 8, Section 2(d) when: a. he made a material misstatement in his 2008 Annual Renewal Form (ARF) when he declared all statements and answers on the ARF were true and correct; and
b. he made a material misstatement in his 2009 ARF when he declared all statements and answers on the ARF were true and correct.
2. His rights to appear before a Discipline Committee of Council have been explained to him and he fully understands his rights and/or obligations under Council Bylaw 10;
3. He waives his rights to appear before a Discipline Committee and undertakes not to exercise any appeal rights he may have under Council Bylaw 10, Section 3 or The Saskatchewan Insurance Act, (the Act) as it relates to matters set out in this agreement and undertaking.
4. He has been advised by The Committee that it is in his interests to obtain independent legal advice before entering into this consensual agreement and undertaking
Consensual Agreement and Undertaking Page 2 Smith having waived his rights undertakes to: 1. Pay a fine in the amount of $250.00 for violations of LIC Bylaw 8(2)(d); and 2. Reimburse Council’s investigation costs in the amount of $220.00. The Committee’s Agreement 1. The Committee agrees to accept from Smith the payment of $470.00 as full and final resolution of the complaint against him; and
2. The Committee further agrees to take no further action against Smith for the acknowledged violations of Council’s Bylaws as set out in this agreement.
Dated at Brandon , in the Province of Manitoba, this 16 day of February, 2010. Originally signed by: _________________________________________________________ Graham Kirk Smith
Dated at Regina , in the Province of Saskatchewan, this 24 day of February, 2010. Originally signed by: ___________________________________________________ __ Kelly Aikens, Chairman, Complaints and Investigation Committee Life Insurance Council of Saskatchewan