L&HNJmedium
Which sanction is most directly authorized against a New Jersey producer who knowingly fails to comply with the disclosure and notice requirements of N.J.A.C. 11:4-2?
AAutomatic rescission of every policy the producer has ever sold in New Jersey, regardless of any connection to the replacement transaction at issue
DOBI administrative discipline including license suspension, revocation, and civil penalties
CMandatory criminal felony prosecution by the U.S. Attorney
DLoss of the producer's FINRA registration only
Why this is the answer
Knowing violations of N.J.A.C. 11:4-2 expose the producer to DOBI administrative discipline, including license suspension or revocation, civil monetary penalties, and orders to make restitution to affected New Jersey consumers.
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