On January 14, according to an administrative penalty disclosure form from the Foshan Financial Regulatory Sub-Bureau, the Foshan branch of China Life Insurance Company Limited was fined 100,000 yuan for providing benefits to customers outside of contractual agreements.
The relevant responsible persons, Chen Yuexian, was issued a warning and fined 20,000 yuan, while Mo Fan was also warned and fined 10,000 yuan.
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