August 31, 2016 / 3:43 AM / 2 years ago

Taiwan's Mega Financial says chairman submits resignation after U.S. fine

TAIPEI, Aug 31 (Reuters) - Taiwan’s Mega Financial Holding Co said on Wednesday its chairman, Shiu Kuang-si, has submitted his resignation, the latest development following investigations into the firm after its banking unit violated U.S. anti-money laundering regulations.

The New York branch of Mega Financial’s banking unit agreed earlier this month to pay $180 million to New York state’s financial regulator for anti-money laundering violations that included lax attention to risk exposure in Panama. (Reporting by J.R. Wu; Editing by Muralikumar Anantharaman)

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