Influential U.S. lawmakers have demanded that one of the world's biggest banks, HSBC Holdings Plc , explain its actions in freezing accounts of Hong Kong pro-democracy activists, moves that could leave it liable to severe sanctions under U.S. law.
Pro-democracy protesters hold a banner during a protest urging for the release of political prisoners at Chinese National Day, in Hong Kong, China October 1, 2021. REUTERS/Tyrone Siu/File PhotoWASHINGTON, March 3 - Influential U.S. lawmakers have demanded that one of the world's biggest banks, HSBC Holdings Plc
"We are writing to raise questions and concerns about HSBC's business practices in Hong Kong and globally, including restrictions placed on the accounts of American citizens and the freezing of accounts of Hong Kong activists, independent media, and civic groups," the lawmakers, led by CECC chairs Senator Jeff Merkley and Representative Jim McGovern, wrote.
HSBC had also frozen bank accounts of activists, independent media, and civic groups, many of which were forced to close or end operations, it said. The lawmakers said they had been told that accounts of U.S. citizens had been restricted, including at HSBC branches in the United States, and this required "immediate rectification" if true.
"We are in receipt of the Commission's request and will work to address their questions," Matt Ward, the head of communications at HSBC Bank USA, told Reuters in an email.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
For China, living with Covid starts in Hong KongBeijing may be softening its zero-tolerance stance. A large unvaccinated elderly population and tight hospital capacity remain big risks. But lessons from the global financial hub, now grappling with surging infections, provide a case study for China's eventual reopening.
Read more »
Hong Kong to report more than 50,000 new COVID cases on Wednesday -TVBHong Kong health authorities are expected to report more than 50,000 new COVID-19 cases on Wednesday, setting a record for daily infections in the global financial hub, broadcaster TVB reported, without identifying the source of the information.
Read more »
Hong Kong-listed Huobi Tech launches cryptocurrency OTC serviceHuobi Technology, a crypto firm listed on the Hong Kong Stock Exchange, is officially launching crypto OTC services in Hong Kong and the United Kingdom.
Read more »
Hong Kong reports record cases; movements may be restrictedHONG KONG (AP) — Hong Kong’s leader on Wednesday said people's movements may be restricted during mandatory testing this month of the entire population for the coronavirus, as health officials reported a record 55,353 daily infections and over a hundred deaths.
Read more »
Coronavirus binds Hong Kong even closer to Beijing as the mainland takes over the pandemic responseWhile the draconian national security law gutted Hong Kong's opposition, it is the pandemic that is really fusing the self-ruled territory with the mainland.
Read more »
Hong Kong Filmart: Streaming Giants Expected to Drive Sales and Industry DiscussionWith Asian territories comprising the fastest-growing markets in the global streaming wars, local producers are finding their wares in hot demand: “The boundary between feature films and episodic series have blurred.”
Read more »