15. (1) For the purposes of the Act, “misconduct” means any of the following: 1. The use of methods of solicitation and advertising that are not compatible with the honour and dignity of the vocation including, without limiting the generality of the foregoing, the use of any illustration, circular or memorandum that misrepresents, or by omission is so incomplete that it misrepresents the terms, benefits or advantages of any policy or contract of insurance issued or to be issued, and the making of any false or misleading statement as to the terms, benefits or advantages of any contract or policy of insurance issued or to be issued. 2. The use of any incomplete comparison of any policy or contract of insurance with that of any other insurer for the purpose of inducing, or intending to induce, an insured to lapse, forfeit or surrender a policy or contract. 3. The use of any payment, allowance or gift, or any offer to pay, allow or give, directly or indirectly, any money or thing of value as an inducement to any prospective insured to insure. 4. Directly or indirectly making or attempting to make an agreement as to the premium to be paid for a policy other than as set forth in the policy, or paying, allowing or giving, or offering or agreeing to pay, allow or give, a rebate of the whole or part of the premium stipulated by the policy or any other consideration or thing of value intended to be in the nature of a rebate of premium to any person insured or applying for insurance in respect of person or property in Ontario, but nothing in this paragraph shall be construed to affect any payment in the nature of a dividend, bonus, profit or savings that is provided for in the policy. 5. Coercing or proposing, directly or indirectly, to coerce a prospective buyer of insurance through the influence of a professional or business relationship or otherwise to give a preference that would not otherwise be given on the effecting of an insurance contract or coercing, inducing or exercising undue influence in order to control, direct or secure insurance business. 6. Holding oneself out or advertising by means of advertisements, cards, circulars, letterheads, signs, or other methods, or carrying on business in any other manner than the name in which the individual or the corporation or partnership of which the individual is the designated representative is registered. 7. The use of any practice or conduct that results in unreasonable delay or resistance to the fair adjustment of claims. 8. Failure to carry on business in a manner consistent with the code of conduct. 9. Failure to comply with the provisions of the Act, this Regulation and the by-laws of the Corporation. 10. Acting as an insurance agent or holding himself, herself or itself out, advertising or conducting himself, herself or itself in such a manner as to lead a reasonable person to believe that the member is an insurance agent. 11. Being convicted, after the 1st day of October, 1981, of a criminal offence or an offence under the Insurance Act, whether or not the offence was committed before the 1st day of October, 1981. 12. The payment of any referral fee or finder’s fee to, or the acceptance of a referral fee or finder’s fee from, a person who is not, i. licensed as an insurance agent or broker under the laws of any jurisdiction, ii. licensed to sell mutual funds under the laws of any jurisdiction, iii. licensed as a real estate agent or broker under the laws of any jurisdiction, iv. licensed as a mortgage broker under the laws of any jurisdiction, v. engaged in the business of a financial planner, vi. engaged in the business of providing financing for the payment of insurance premiums, or vii. engaged in the business of providing products or services that reduce insurance risk. 13. A registered insurance broker who is a director, officer or principal broker of a corporation that is a member or who is a partner or principal broker of a partnership that is a member or who is the principal broker of a sole proprietorship that is a member has knowingly concurred in the misconduct of the sole proprietorship, partnership or corporation. 14. Providing false or misleading information to the Corporation. 15. Acting as a principal broker as described in section 7.2 when the member has failed to comply with the educational requirements established by the Council under that section. 16. If a principal broker believes on reasonable and probable grounds that a member under the principal broker’s direction, regardless of the member’s registration class, has committed an act of misconduct, failure of the principal broker to report the potential misconduct. R.R.O. 1990, Reg. 991, s. 15 (1); O. Reg. 72/96, s. 4; O. Reg. 410/04, s. 5; O. Reg. 125/18, s. 2. (2) Nothing in this section shall be construed to prohibit a member from being licensed as and acting as a life insurance agent under the Insurance Act.  R.R.O. 1990, Reg. 991, s. 15 (2).