Joyce A. Stephenson

The appellant appealed a decision of the Director of Licensing and Enforcement revoking his level II life insurance agent's licence.

The revocation followed findings that the appellant had borrowed money from clients, misappropriated funds, forged signatures, and used confidential information for personal loans.

The appellant sought to substitute a one-year suspension for the revocation.

The Financial Services Tribunal dismissed the appeal, finding no unfairness in the initial hearing and concluding that the Director's decision was reasonable and justified given the serious nature of the appellant's conduct.

The appellant appealed a decision of the Director of Licensing and Enforcement suspending his level II life insurance licence for 60 days due to his failure to satisfy continuing education requirements and furnishing false information.

At the hearing, the appellant sought to introduce new evidence regarding his mental stress, which the Tribunal refused to admit as it did not meet the conditions for new evidence on appeal.

The Tribunal confirmed the Director's decision but varied the commencement date of the suspension to avoid undue prejudice to the appellant's clientele during the RRSP season.