Sony Life Insurance Co. suspended the sales activities of approximately 50 employees. The suspensions follow suspected financial misconduct, including customer fraud.
This action marks the latest development in a year-long scandal. The scandal involves sales representatives swindling clients through bogus investments.
Sony Life is investigating all 2.8 million policyholders to determine the full extent of the damage.
Japan's Financial Services Agency (FSA) launched an on-site inspection of Sony Life in September. The agency is considering administrative penalties.