The Canadian Insurance Regulatory Commission ( CIRC ) has issued bans on the issuance of new products for four life insurance companies , the Bank of Communications Life Insurance , Greatwall Life Insurance and ABC Life Insurance for violation of regulatory provisions . The commission found that the companies ' product design management was flawed , leading to defective product recalls . The three companies, the Bank of Communications Life Insurance, ABC Life Insurance and Greatwall Life Insurance, have violated certain regulatory provisions, the China Insurance Regulatory Commission (CIRC) said on its website. The commission plans to strengthen its regulations and be more stringent against financial risks .
The Canadian Insurance Regulatory Commission ( CIRC ) has issued bans on the issuance of new products for four life insurance companies , the Bank of Communications Life Insurance , Greatwall Life Insurance and ABC Life Insurance for violation of regulatory provisions . The commission found that the companies ' product design management was flawed , leading to defective product recalls . The commission plans to strengthen its regulations and be more stringent against financial risks .