#Sanction
HK Officials sanctioned by the US hold properties with mortgage from two Chinese-owned banks
The US slapped sanctions on four more Chinese-Hong Kong officials on November 9, 2020, including Deputy Commissioner of Police (National Security), Lau Chi-wai and Senior Superintendent of the National Security Department of the Hong Kong Police Force, Li Kwai-wah.
According to Stand News, information obtained from the Land Registry shows that Lau and Li each wholly owns a residential property with mortgages from two different Chinese-owned banks, Chong Hing Bank Limited and Bank of China (Hong Kong). Their mortgages are not paid off.
The two banks have not responded to whether they would comply with the sanctions.
The Stand News reached out to the Police Public Relations Branch (#PPRB) for comments but there was no official response. The Stand News are awaiting response from the said banks on whether they would follow U.S. sanctions measures and if Lau and Li’s mortgages would be affected.
The Financial Times reported days ago the Hong Kong Securities Regulatory Commission made a private promise to international banks in Hong Kong that by complying with US sanctions they are unlikely to violate the National Security Law.
The Securities Regulatory Commission responded to the Stand New’s inquiries, saying they did not wish to comment on the content of the report.
Source: Stand News #Nov10
https://bit.ly/35ge1lX
#NationalSecurityLaw #SecuritiesRegulatoryCommission #LauChiWai #LiKwaiWah #Property
HK Officials sanctioned by the US hold properties with mortgage from two Chinese-owned banks
The US slapped sanctions on four more Chinese-Hong Kong officials on November 9, 2020, including Deputy Commissioner of Police (National Security), Lau Chi-wai and Senior Superintendent of the National Security Department of the Hong Kong Police Force, Li Kwai-wah.
According to Stand News, information obtained from the Land Registry shows that Lau and Li each wholly owns a residential property with mortgages from two different Chinese-owned banks, Chong Hing Bank Limited and Bank of China (Hong Kong). Their mortgages are not paid off.
The two banks have not responded to whether they would comply with the sanctions.
The Stand News reached out to the Police Public Relations Branch (#PPRB) for comments but there was no official response. The Stand News are awaiting response from the said banks on whether they would follow U.S. sanctions measures and if Lau and Li’s mortgages would be affected.
The Financial Times reported days ago the Hong Kong Securities Regulatory Commission made a private promise to international banks in Hong Kong that by complying with US sanctions they are unlikely to violate the National Security Law.
The Securities Regulatory Commission responded to the Stand New’s inquiries, saying they did not wish to comment on the content of the report.
Source: Stand News #Nov10
https://bit.ly/35ge1lX
#NationalSecurityLaw #SecuritiesRegulatoryCommission #LauChiWai #LiKwaiWah #Property