TheMarkerSecurity
Israel Revokes Licenses of 5 Insurance Agents in Finbert Scandal
Translated & summarized from TheMarker by baba
BusinessNeutral tone
Originalפרשת סלייס: רשות שוק ההון שללה את הרישיונות של חמישה סוכני ביטוח מסוכנות פינברט
The story in 4 lines · by baba
- Five insurance agents' licenses revoked by Israeli authority.
- Revocations are part of the ongoing Finbert scandal.
- Over 280 million shekels were transferred to foreign funds.
- Twelve agents in total have had their licenses revoked.
Israel's Capital Markets, Insurance and Savings Authority announced on Monday its decision to revoke the licenses of five insurance agents from the Finbert agency. This action follows the revocation of licenses for seven other Finbert agents nearly a year ago.
The authority stated that these twelve agents were central to a mechanism that transferred over 280 million shekels of savers' funds to foreign funds managed by the agency or its affiliates. The latest decision completes the process of revoking licenses for all twelve implicated agents.
