Hong Kong's watchdog hits FWD Life with $2.4m fine

Pedro Gonçalves
clock • 1 min read

Hong Kong's financial watchdog has slapped  Bermuda-based FWD Life Insurance with a HK$2.4m fine for failure to comply with key personnel requirements. The Securities and Futures Commission (SFC) also reprimanded the insurance company after finding out that  FWD Life failed to ensure there were at least two key personnel who met the minimum five-year investment experience requirement in managing retirement funds or public funds under the MPF Code at all times, according to a statement from...

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