Orchid backing bank gets off with fine

Hong Kong's Securities and Futures Commission was reported ready to accept a record HK$30 million settlement from investment bank ICEA rather than put it under a two-year suspension for its role in sponsoring collapsed Shenyang-based industrial orchid rancher Euro-Asia Agricultural (Holdings). According to the South China Morning Post, which reported the story, the penalty figure equals the bank's annual profit. Euro-Asia, which was fould wildly inflating earnings ahead of its planned IPO, is now in receivership