Firm said to have inadequate PEP identification procedures for more than three years.
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.