The Commissioner may impose sanctions on companies which have failed to comply with the provisions of this Rule in completing the annual statement with the appropriate actuarial certification and opinion, or in failing to file the statement of opinion when eligible for any exemptions under this Rule. Such sanctions shall include, but not be limited to, those the Commissioner may impose on companies for failure to file, or failure to file a complete, annual statement under Ark. Code Ann. § 23-63-216, including license suspension, revocation, and monetary fines or penalties.

Companies and actuaries filing false statements of financial conditions in connection with the actuarial opinions required by this Rule, filing false or fraudulent actuarial opinions with the Commissioner, or knowingly making a false entry in these actuarial opinions in the reports or annual statements of the companies shall be deemed to have committed a trade practice violation under the Trade Practices Act, Ark. Code Ann. §§ 23-66-201, et seq., and this Rule in addition to other applicable provisions of Arkansas laws and Rules and shall be subject to administrative proceedings culminating in possible cease and desist orders, monetary penalties, and/or license suspensions or revocations.