Sales suspension mulled for Prudential Life Insurance
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Financial authorities in Japan are considering action against Prudential Life Insurance over a massive money scandal. Sources say the firm may be hit with a sales suspension.
Financial authorities in Japan are considering action against Prudential Life Insurance over a massive money scandal. Sources say the firm may be hit with a sales suspension.
The Financial Services Agency inspected the firm's offices after it was revealed earlier this year that employees had engaged in wrongdoing, including swindling money from customers.
The sum involved in the scandal totals about 3.7 billion yen, or 23.4 million dollars.
Sources say the agency may suspend Prudential Life Insurance, a unit of US-based Prudential Financial, from selling policies.
The agency last issued a suspension order in 2019 to Japan Post Insurance over improper sales practices.
Prudential Life Insurance has refrained from selling policies since February.
Original Source
https://www3.nhk.or.jp/nhkworld/news/20261003de54008/
