About this matter

Obtained discipline findings against life insurance agent for suitability and rebate breaches

The Hearing Committee found that Liao committed multiple breaches of her professional obligations as a life insurance agent, including failing to properly assess clients’ insurance needs, recommending unsuitable products, failing to advise clients of appropriate alternatives, maintaining inadequate records, and rebating 25% of premiums contrary to regulatory requirements. The Committee imposed a $6,000 fine, significant conditions on any future licensing—including a one-year suspension, supervision, education requirements and a temporary prohibition on acting as an agency nominee—and ordered her to pay approximately $83,900 in hearing and investigation costs.