Improper use of commission accounts, Hebei Jingtai Insurance Agency was fined a total of 85,000 yuan.

On November 4th, the Administrative Penalty Information released by the Handan Regulatory Branch of the China Banking and Insurance Regulatory Commission showed that Hebei Jingtai Insurance Agency Co., Ltd. had violations including exceeding the statutory term for temporary branch managers, improper use of commission accounts, employing personnel who were not registered with the relevant authorities to engage in insurance agency services, and conducting illegal transactions with institutions engaged in illegal insurance intermediary activities. The Handan Regulatory Branch of the China Banking and Insurance Regulatory Commission issued a warning and fined the company 60,000 yuan. The then general manager of the company, Zhao Wenwen, was warned and fined 25,000 yuan.