State of Florida Financial Services

The Florida Department of Financial Services alleged that Ms. Hyde failed to report an administrative action to the Department within 30 days after the final disposition.

Order of monetary penalty and one year license probation.

Monetary Penalty other than Fines

$1,500.00

One year license probation

Office of Commissioner of Insurance State of Georgia

The Georgia Office of the Commissioner of Insurance alleged that Licensee failed to timely notify it of the Notice of Fine that the Louisiana Department of Insurance had issued to her on May 9, 2017.

Order of monetary penalty and license probation

Monetary Penalty other than Fines

$300.00

license probation

Representative maintained that the Louisiana Department of Insurance Notice of Fine never became final, as that administrative action was concluded informally, via a Joint Stipulation. No "disciplinary action," as defined by Georgia Code and as required to trigger any reporting obligation, was taken against her.

Louisiana Department of Insurance

It was alleged that the representative altered the amount on a customer's check from $824.00 to $846.00 and altered a customer's non-variable life insurance application. Representative contends that said changes were made at customer's request.

Stipulation and Consent

Civil and Administrative Penalty(ies)/Fine(s)

$500.00

The Notice of Fine issued by the Louisiana Department of Insurance never became a final order, because it was timely appealed and was ultimately concluded without the entry of any final order.

Customer alleged that representative altered documents related to a non-variable life insurance policy application.

The firm's investigation into this matter found that the representative's actions were not intended to deceive or harm the client, or for any personal gain of the representative. Due to the misunderstandings that occurred, the firm honored the customer's request to issue the policy at a more favorable age. The customer has no obligation to accept the policy and can return it under the free look provision. The firms' conclusion was that the firm offered the client accommodations to rectify the misunderstandings. In addition, the representative has acknowledged her part in the misunderstanding and will be attentive to avoid similar misunderstandings in the future.