Jinwu Financial News | According to information from the China Financial Supervisory Administration, Zhongan Online (06060) was fined 1.8 million yuan (same below) for the “No. 1 ticket” issued this year.
According to the administrative penalty decision, the main illegal facts of Zhongan Online include concealing related relationships and related transactions, falsely charging fees through related parties, misreporting and omitting reports in reports submitted through the related transaction supervision system, and using investment assets formed from the use of insurance funds to issue loans to others.
The General Financial Supervisory Authority fined Zhongan Online 1.8 million yuan according to law, issued warnings to Song Zhenhua, Zhang Yongbo, and Li Gaofeng, then deputy general managers of Zhongan Online, and fined 70,000 yuan, 100,000 yuan, and 70,000 yuan respectively.