(a) Any person qualified in this state under this subpart to sell or offer to sell variable life insurance shall immediately report to the Insurance Commissioner:

1. (1) Any suspension or revocation of his or her agent's license in any other state or territory of the United States;
2. (2) The imposition of any disciplinary sanction, including suspension or expulsion from membership, suspension, or revocation of or denial of registration, imposed upon him or her by any national securities exchange, national securities association, or any federal, state, or territorial agency with jurisdiction over securities or variable life insurance;
3. (3) Any judgment or injunction entered against him or her on the basis of conduct deemed to have involved fraud, deceit, misrepresentation, or violation of any insurance or securities law or rule.