The China Securities Regulatory Commission announced on Friday that it fined Ant Group $984 million (7.12 billion yuan) "in view of the illegal and irregular acts by Ant Group and its affiliates in previous years."
Chinese newspaper Global Times reported the fine was imposed for "various violations in multiple areas, including corporate governance, financial consumer protection, and other sectors." The company said it will comply with the fine and "continue to further enhance" its compliance governance.
