In Hong Kong, the Eastern Magistrates' Courts convicted and imposed a fine of HK$10,000 ($1,284) on Mr Yan Zhiyu, an insurance intermediary, for failing to attend without reasonable excuse an interview concerning the investigation into suspected misappropriation of premium payment belonging to two policyholders.
By his actions, he contravened section 64ZZL(1) of the Insurance Ordinance (IO).
To facilitate the Insurance Authority in discharging its statutory responsibility of regulating the conduct of insurance intermediaries, a person may be requested to attend interviews or render assistance in the related investigations.
Failure to comply with section 64ZZL(1) of the IO could result in a fine of HK$200,000 and imprisonment for one year upon conviction on indictment, or a fine at level five that amounts to HK$50,000 and imprisonment for six months on summary conviction.