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Welcome To IANS Live - BUSINESS - Rs 17 lakh fine on Future General India by IRDAI

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Chennai, April 13 (IANS) India s insurance sector regulator has levied a penalty of Rs 17 lakh on private non-life insurer Future Generali India Insurance Ltd for buddling add-on covers on its motor insurance policies without the policyholder s as well as its own consent.
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Update: 13-April-2021 ....

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Beijing market regulator fines 360 search engine company for false advertising

A market regulator in Beijing fined the subsidiary company of search engine 360 2 million yuan ($306,000) for false advertising, by state-owned newspaper Beijing Youth Daily reported on Tuesday. ....

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Local Chinese regulators fine Alibaba-backed browser for false advertising

Local market regulators in China on Tuesday fined subsidiaries of Alibaba Group Holding Ltd and 360 Security Technology Inc for engaging in false advertising. ....

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KiwiSaver providers told to review fees annually by regulator

KiwiSaver providers told to review fees annually by regulator
13 Apr, 2021 05:00 PM
5 minutes to read
KiwiSaver fund managers have been told they should be undertaking an annual review of their fees. Photo / File
KiwiSaver fund managers have been told they should be undertaking an annual review of their fees. Photo / File
KiwiSaver providers have been told they must review their fees annually and prove they are providing value for money or face potential regulatory action.
The Financial Markets Authority has released guidance to fund managers and
their supervisors over fees amid concerns that KiwiSaver members are not getting good value for money. ....

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China fine on Alibaba: Learn from Alibaba penalty, China warns internet firms | International Business News

BEIJING: China s market regulator, fresh from fining e-commerce giant Alibaba $2.75 billion, said on Tuesday it warned nearly three dozen internet companies to stop using any banned practices such as forcing vendors to use their platform exclusively.
The State Administration for Market Regulation (SAMR) said it summoned 34 companies including Tencent, ByteDance and JD.com for a meeting, where it ordered them to conduct self-inspections within one month, warning of severe punishment for any that still violated the rules.
In February, China issued new anti-monopoly guidelines targeting internet platforms.
On Saturday, SAMR hit Alibaba with a record 18.2 billion yuan fine, and on Tuesday told the other Internet firms to heed that lesson. The regulator is beefing up staff and other resources in order to strengthen antitrust enforcement, Reuters has reported. ....

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