The Insurance Authority (IA) has taken its first disciplinary actions against two licensed insurance broker companies. The disciplinary actions involve the failure by the broker companies to submit their audited financial statements and auditor’s reports (collectively, the “Financial Documents”) within six months following the end of their respective financial years. Both broker companies have been fined and one of the companies has had its licence suspended.

https://www.ia.org.hk/en/infocenter/press_releases/20210528.html