Financial news from the front lines on 10/10: According to the administrative penalty information published by the Jiaozuo Financial Regulatory Bureau, Henan Weining Insurance Agency Co., Ltd. was warned and fined RMB 34 million for preparing false financial statements and leveraging business convenience to secure illegitimate benefits for other individuals. Additionally, Wang Haimin, Executive Director of Henan Weining Insurance Agency Co., Ltd., was warned and fined RMB 5.5 million for preparing false financial statements and leveraging business convenience to secure illegitimate benefits for other individuals. Meanwhile, Wang Xiuli, former General Manager of Henan Weining Insurance Agency Co., Ltd., was warned and fined RMB 0.5 million due to non-standard information technology construction.
Fine details:
No. Party Name Penalty Decision Number Main Illegal and Violative Acts Penalty Content Decision-Making Authority 1 Wang Quansheng (Deputy General Manager, Hu'an Property Insurance Co., Ltd., Jiaozuo Branch) Jiao Jin Fa Jue Zi [202X] No. 28 Failure to use insurance clauses or rates approved or filed as required Warning and fine of RMB 2 ten thousand yuan Jiaozuo Financial Regulatory Bureau 2 Hu'an Property Insurance Co., Ltd., Jiaozuo Branch Jiao Jin Fa Jue Zi [202X] No. 29 Failure to use insurance clauses or rates approved or filed as required Fine of RMB 27 ten thousand yuan Jiaozuo Financial Regulatory Bureau 3 Henan Weinings Insurance Agency Co., Ltd. Jiao Jin Fa Jue Zi [202X] No. 31 Preparing false financial statements; using business opportunities to gain illegitimate benefits for others; providing policyholders with benefits beyond the insurance contract; non-compliant preparation of customer disclosure documents; non-compliant management of insurance intermediary licenses; failure to use bank accounts in accordance with regulations; non-standard information technology construction Warning and fine of RMB 34 ten thousand yuan Jiaozuo Financial Regulatory Bureau 4 Wang Haimin (Executive Director, Henan Weinings Insurance Agency Co., Ltd.) Jiao Jin Fa Jue Zi [202X] No. 32 Preparing false financial statements; using business opportunities to gain illegitimate benefits for others; providing policyholders with benefits beyond the insurance contract; non-compliant preparation of customer disclosure documents; non-compliant management of insurance intermediary licenses; failure to use bank accounts in accordance with regulations Warning and fine of RMB 5.5 ten thousand yuan Jiaozuo Financial Regulatory Bureau 5 Wang Xiuli (General Manager at the time, Henan Weinings Insurance Agency Co., Ltd.) Jiao Jin Fa Jue Zi [202X] No. 33 Non-standard information technology construction Warning and fine of RMB 0.5 ten thousand yuan Jiaozuo Financial Regulatory Bureau
