Political pressure weighs on HSBC over Hong Kong activists

Carrie Lam revealed in late 2020 that she received cash for her salary after being targeted by US sanction. That not only presented a problem for Ms Lam, but also a compliance nightmare for international banks in Hong Kong.

HSBC freezing of a bank account of Ted Hui, former pro-democracy lawmaker, over the new year has shown more fraught for the banks on the compliance problems.

Lawyers say banks are increasingly incentivised to avoid offering services to any Hong Konger who could get them into hot water.

One compliance officer at an international bank in Hong Kong said employees were worried and tried to avoid having their name attached to decisions on individual accounts considered political, even attempting to get closure decisions signed off offshore. “We are all on edge,” the officer said.

Source: FT #Jan05

https://www.ft.com/content/75313efa-e44b-4f73-9cd0-41a045f62749

#HSBC #TedHui #HKActivist #HongKong

#InternationalCommunity #Denmark
Danish MPs jointly declares “unreserved support” for colleagues assisting HK democrat to escape

Representatives of three major parties in the #DanishParliament jointly issued statement on January 23, 2021 in support of their Parliament colleagues who allegedly assisted former legislator, #TedHui Chi-fong, to flee the city in 2020.

It was reported that the Hong Kong police are considering prosecuting two Danish MPs, namely #UffeElbaek of the Green Party and #KatarinaAmmitzbøll of the Conservative Party.

#MartinLidegaard of the Danish Social Liberal Party, #AnnetteLind of Social Democratic Party and #MichaelAastrupJensen, member of the largest opposition Liberal Party said in their statement to the Hong Kong police that “members of the Danish Parliament are free to exercise their parliamentary duties without threats of retaliation.”

They stressed that “this is an inalienable and constitutional principle in Danish democracy”, calling also on other politicians and political parties to join in their support.

Source: Stand News; #Jan23

#PoliceState

#Oppression #NationalSecurityLaw
#HSBC chief defends freezing accounts of democrats as “legally obliged”

Following thr Chinese Authorities’ imposition of National Security Law in Hong Kong, the HSBC, the city’s leading bank has been criticized for assisting the National Security Police and freezing the bank accounts of pro-democracy activists’, such as #TedHui and his family and the Good Neighbor North District Church.

In a meeting scheduled on January 26, 2021, the Bank’s CEO Noel Quinn told the Foreign Affairs Committee in the UK that the bank was "legally obliged to take action" on accounts after being notified by Hong Kong police.

In a Facebook post on January 24, 2021, former lawmaker Ted Hui Chi-fung, now in exile, said that he has provided the Committee with detailed information on the cases where his and his families accounts were frozen.

Ted Hui added that any bank, business or institution that assists in repressing the freedom of Hong Kong people would have to pay a heavy international price and that he would do everything possible to make them face the consequences.

In a letter to Hui in early January, Quinn explained that the bank was "forced" to freeze the accounts at the request of the police. Hui, however, rejected Quinn’s explanation, saying he “failed to provide the legal basis” for the account lockdown.

Source: Stand News; #Jan25

#UK #ForeignAffairsCommittee
#NoelQuinn #FailedBank

#TedHui #FiveEyes
Exiled Hong Kong lawmaker moves to Australia to boost global pro-democracy effort

#StandwithHK #Exile #GlobalEffort

Source: Stand News; #Mar9

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