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    1299   HK0000069689

AIA GROUP LIMITED

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Singapore Central Bank Reprimands Four Financial Institutions

06/15/2021 | 12:41am EDT

By Ronnie Harui

The Monetary Authority of Singapore has reprimanded AIA Financial Advisers Pte. Ltd., Prudential Assurance Company Singapore Pte. Ltd., Aviva Ltd. and Aviva Financial Advisers Pte. Ltd. for breaching requirements related to risk management and supervisors' remuneration.

The MAS conducted an investigation and found numerous instances where supervisors at these financial institutions were paid in contravention of requirements under the Financial Advisers Act, it said Tuesday. These were related to the sale of investment products and regular premium life policies, the MAS said.

The central bank also reprimanded Peter Tan Shou Yi, a consultant engaged by Aviva in Singapore, for accepting remuneration in breach of regulatory requirements, and Aviva Financial Advisers Chief Executive Chee Boon Chai Lionel for his failure to discharge the duties of his office.

The MAS directed Aviva Financial Advisers to appoint independent external people to conduct a review of the company's internal control processes, and to perform call-backs to all customers before any sales are completed, the central bank said.

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

06-15-21 0241ET

Stocks mentioned in the article
ChangeLast1st jan.
AIA GROUP LIMITED -3.88% 89.25 End-of-day quote.-6.05%
AVIVA PLC -1.10% 386 Delayed Quote.20.02%
PRUDENTIAL PLC -2.16% 1337 Delayed Quote.1.45%
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Financials (USD)
Sales 2021 36 949 M - -
Net income 2021 6 828 M - -
Net Debt 2021 - - -
P/E ratio 2021 155x
Yield 2021 0,21%
Capitalization 1 077 B 138 B -
Capi. / Sales 2021 29,1x
Capi. / Sales 2022 26,3x
Nbr of Employees 23 000
Free-Float 99,9%
Chart AIA GROUP LIMITED
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AIA Group Limited Technical Analysis Chart | 1299 | HK0000069689 | MarketScreener
Technical analysis trends AIA GROUP LIMITED
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TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 28
Last Close Price 89,25 $
Average target price 15,08 $
Spread / Average Target -83,1%
EPS Revisions
Managers and Directors
Yuan Xiang Li President, Group CEO & Executive Director
Garth Jones Group Chief Financial Officer
Sze Wing Tse Independent Non-Executive Chairman
Biswa Misra Group Chief Technology & Operations Officer
Mark Konyn Group Chief Investment Officer