Compliance with US overseas enforcement actions is unlikely to change in Asia despite the dilemma it raises for the region's banks.
Zhongtai International breached AML/CTF Ordinance, Code of Conduct and SFC guidance.
Firm breached 3 regulations including SFC Code of Conduct.
Company chairman misrepresented firm as P2P business despite no involvement in sector.
Investigation finds ANZ helped customers buy RMB-linked forwards for which they were unfit.
Regulator has so far fined 16 banks $2.25mn for malpractice in selling the currency options.
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