CHINA - CITIC Prudential has been told by the Chinese regulator to replace its Beijing operations head Choo Sin Fook and has been fined 200,000 yuan (US$24,000) after failing to gain regulatory approval for registering two sales offices in the capital city.
“The behaviour of CITIC Prudential in setting up sub-branches without permission is intolerable, leaving a bad impact on the insurance industry,’’ reads a notice issued by the China Insurance Regul...
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