In this article
Duo guilty of bribery and fraud over AXA insurance policy | Reasons for verdict (Chinese)
ICAC, 29-Apr-2016
An earlier announcement disclosed that the insurance policy was US$2m (HK$15.6m). It earned an up-front commission of HK$1.2m for the agency, CTHK Asset Management Ltd. $0.5m of this made its way to the HSBC staffer, who was only supposed to flog HSBC's prodcuts. The almost 8% front-end fee is a useful reminder of just how inefficient these policies are as a method of savings.
Organisations
- AXA CHINA REGION INSURANCE COMPANY LIMITED 安盛金融有限公司
- HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (THE)
- HSBC HOLDINGS PLC
- SUNRISE WEALTH MANAGEMENT LIMITED 新盛理財有限公司
People
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy