Nu Skin says likely to be fined by Chinese regulators
March 18 (Reuters) - Nu Skin Enterprises Inc said on Tuesday that it would likely be fined by Chinese regulators investigating whether the producer of personal care products and nutritional supplements distributed false information and conducted illegal business in China.
Nu Skin also said in its annual report filed with the U.S. Securities and Exchange Commission that it has temporarily suspended promotional meetings and accepting applications from prospective new sales representatives in China.
The company said that in addition to fines, it could potentially face sanctions in China, such as a formal suspension of its ability to recruit new sales people and a temporary suspension of its right to sell products in various markets.
In January, China's State Administration for Industry and Commerce (SAIC) ordered local authorities to investigate media reports alleging misconduct by Nu Skin.
Nu Skin shares fell 4 percent to $73.57 in after hours trading.
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