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China Insurance Regulatory Commission (CIRC) barred Yao from the insurance industry for 10 years for irregular market operations last month.
The CIRC said that Foresea Life violated regulations and provided false information on its capital increase.
Foresea Life, a subsidiary of financial conglomerate Baoneng, was suspended from selling its questionable high-return insurance service in December, after speculative stake buyouts in listed companies by heavyweight insurers.
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