Ins 2.18(3)(c)4.c.c. Obtaining or attempting to obtain a license through misrepresentation or fraud. Ins 2.18(3)(c)4.d.d. Improperly withholding, misappropriating, or converting any monies or properties received in the course of engaging in the business of life settlements. Ins 2.18(3)(c)4.e.e. Misrepresenting the terms of an actual or proposed life settlement contract. Ins 2.18(3)(c)4.f.f. Having been convicted of any felony or misdemeanor of which criminal fraud is an element or having plead other than not guilty with respect to any felony or misdemeanor of which criminal fraud or moral turpitude is an element, regardless whether a judgment of conviction has been entered by the court. Ins 2.18(3)(c)4.g.g. Having admitted or been found to have committed any unfair trade practice or fraud. Ins 2.18(3)(c)4.h.h. Using fraudulent, coercive, or dishonest practices, or demonstrating incompetence, untrustworthiness, or financial irresponsibility in the conduct of business in this state or elsewhere. Ins 2.18(3)(c)4.i.i. Having a life settlement license or its equivalent, denied, suspended, or revoked in any other state, province, district, or territory. Ins 2.18(3)(c)4.j.j. Forging another’s name to an application or to any document related to a life settlement transaction. Ins 2.18(3)(c)4.k.k. Failing to comply with an administrative or court order imposing a child support obligation. Ins 2.18(3)(c)4.L.L. Failing to pay state income tax or comply with any administrative or court order directing payment of state income tax. Ins 2.18(4)(a)(a) An individual licensed as a broker shall comply with the training requirements set forth in s. 632.69 (3), Stats. Ins 2.18(4)(b)(b) A firm licensed as a broker shall certify to the commissioner on its application for initial and renewal licensing that the firm’s designated responsible Wisconsin-licensed individual representative has complied with the training requirements set forth in s. 632.69 (3), Stats. Ins 2.18(4)(c)(c) Each compliance period for recurring training required under s. 632.69 (3), Stats., shall commence on July first immediately following the preceding compliance period and shall end 24 months later on June 30. Ins 2.18(4)(d)(d) Recurring training required under s. 632.69 (3) (e), Stats., shall be completed and reported at a rate of not less than 2 hours each 12 months of each compliance period. Ins 2.18(5)(5) Notification of formal administrative actions, criminal proceedings and lawsuits. A licensed broker or provider shall notify the commissioner in writing of the following within 30 days: Ins 2.18(5)(a)(a) Except for action taken by the Wisconsin office of the commissioner of insurance, any formal administrative action against the broker or provider taken by any state’s regulatory agency, commission or board or other regulatory agency which licenses the person for any occupational activity. The notification shall include a description of the basis for the administrative action and any action taken as a result of the proceeding, a copy of the notice of hearing and other documents describing the problem, a copy of the order, consent to order, stipulation, final resolution, and other relevant documents. Ins 2.18(5)(b)(b) Any initial pretrial hearing date related to any criminal prosecution of the broker or provider taken in any jurisdiction, other than a misdemeanor charge related to the use of a motor vehicle or the violation of a fish and game regulation. The notification shall include a copy of the initial criminal complaint filed, the order resulting from the hearing and any other relevant legal documents. Ins 2.18(5)(c)(c) Any felony conviction or misdemeanor conviction of the licensee in any jurisdiction, other than a misdemeanor conviction related to the use of a motor vehicle or the violation of a fish and game regulation. The notification shall include a copy of the initial criminal complaint or criminal charging document filed, the judgment of conviction, the sentencing document, the broker’s explanation of what happened to cause criminal proceedings, the licensee’s reasons why no action should be taken regarding the life settlement and any other relevant legal documents. Ins 2.18(5)(d)(d) Any lawsuit filed against the licensee in which there are allegations of misrepresentation, fraud, theft or embezzlement involving the licensee. The notification shall include a copy of the initial suit documents, the licensee’s explanation of what happened to cause the civil proceedings, why no action should be taken regarding the life settlement broker’s license, and any other relevant legal documents. Ins 2.18(6)(6) Notification to office. A licensee shall notify the office in writing of any of the following within 30 days after the date of the occurrence: Ins 2.18(6)(a)(a) The cessation of business activities as a broker or provider. A notification under this subsection shall include the name and address of the custodian of the licensee’s business records and the location of the records. Ins 2.18(6)(b)(b) Any change in the broker’s or provider’s business mailing address or the location of its business records. Ins 2.18(6)(c)(c) New or revised information about officers, partners, directors, members, designated employees, or stockholders, except stockholders owning fewer than ten percent of the shares of a provider or broker whose shares are publicly traded. Ins 2.18(8)(a)(a) Purpose. This subsection interprets and implements s. 632.69, Stats., by specifying the content of certain notices required to be given to policyholders, owners and purchasers. Ins 2.18(8)(b)(b) Notice format. An insurer shall use the forms in Appendices I, II, and III to comply with this subsection. Each notice shall be in no less than 10-point type, and shall include the issuer’s address, toll free telephone number, if available, and telephone number in no less than 12-point type.