Additional Information for Mega Alliance Financial Management Inc

On April 28, 2015: The Insurance Council of BC issued the following Order against Mega Alliance Financial Management In. On this Order the Council refers to the business as "Agency":

Effective April 28, 2015, the following conditions be placed on the Agency's life and accident and sickness insurance licence, pursuant to section 236 of the
Act:
a) The Agency is prohibited from engaging in any insurance activities with clients, or their immediate families, of Sophia Cummings or Sophia Immigration Ltd. until such time as the immigration client has legally immigrated to Canada and is no longer relying, directly or indirectly, on Sophia Cummings' or Sophia Immigration Ltd.' s services as they relate to the client's immigration status in Canada.
b) The Agency is required to provide the following disclosure to theimmigration client, once the client has legally immigrated to Canada and prior to conducting any insurance activities with the client or his or her immediate family, in a manner which is satisfactory to Council and ensures the full understanding of the client, including taking into
consideration any language differences that may exist:

i) The services provided by Sophia Cummings or Sophia Immigration Ltd. have no bearing on the role and responsibilities of the Agency (and its nominee) as an insurance agency.
ii) There is no obligation to purchase any insurance products from
the Agency.
iii) The client is entitled to seek insurance advice from any licensed
insurance agent in the province.
c) The Agency is required to have the client sign the above-mentioned disclosure acknowledging receipt and retain a copy of the signed disclosure on the client's insurance file.
d) The Agency is required to disclose in writing to the client that Sophia
Cummings or Sophia Immigration Ltd. may receive direct or indirect
compensation as a result of any insurance transaction undertaken on
their behalf by the Agency.

2. The Agency is assessed Council's hearing costs of $2,375.00.

3. As a condition of this order, the Agency is required to pay the above-ordered
hearing costs no later than July 28, 2015. If the Agency does not pay the
above-ordered hearing costs in full by this date, the Agency's life and accident
and sickness insurance licence is suspended as of July 29, 2015 without further
action from Council and the Agency will not be permitted to complete any
annual filing until such time as the ordered hearing costs are paid in full.

For more information, please visit Insurance Council of BC's website at: www.insurancecouncilofbc.com