We think that the Chinese manufacturers quote peak/surge current values while we Brit manufacturers tend to quote maximum continuous current handling capability. You should choose your ESC on the basis of the latter - the former has little practical meaning.
I have said elsewhere that it would be almost impossible to pass 110A continuously through a speed controller with that paucity of cooling and such thin cable. At 12v that would be 1320 watts, or more than a one-bar electric fire. Just check out the thickness of your average domestic cooker cable - yep - it's 6 sq.mm, and that is for a maximum of 30A.
Apart from fast electrics (which is a euphemism for ritual abuse involving motor, batteries and speed controller) you should not need anything rated more than 30A for "normal" modelling applications - not even with a noisy, hungry old beast like an 850.
If you need another opinion look no further than John Elsy's cautionary tale.
Ref Trading Standards, who's going to bother them - and do you think they will be bothered - for a five quid speed controller? Any serious issue they might have would be with the manufacturer, and these things are made in deepest darkest China.
Dave M