Zhongtian Securities Fined for Anti-Money Laundering Breaches

What’s new: China’s central bank fined Zhongtian Securities Co. Ltd. 1.37 million yuan ($216,000) for failing to comply with anti-money laundering regulations in the first such penalty imposed on a brokerage house this year.

Zhongtian was punished for failing to verify customers’ identities and report suspicious transactions to authorities in accordance with the rules, the Shenyang branch of the People’s Bank of China said in a statement.