AIA Face $700,000 Penalty Following FMA Court Proceeding
The Auckland High Court has ordered life insurer AIA to pay a pecuniary penalty of $700,000 for making false and/or misleading representations to some customers, following proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko. AIA admitted to the conduct last year in court. The FMA and AIA agreed a penalty of $700,000 reflected […]
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