HSBC asks mainland investors for source declarations
HK01 · 3 SOURCESabout 1 hour ago2 MIN
Summary
HSBC Hong Kong has reportedly begun sending notices to some existing mainland Chinese investment clients, asking them to submit a Declaration for Opening/Maintaining an Account through the bank’s app and update their contact information by September 12. The declaration includes confirmation that funds used for investment activities come from lawful sources outside mainland China, and that the bank may disclose personal data when required by law enforcement or regulators. Notices said investment-related services could be suspended if the form is not submitted by August 20, and could be terminated if it is still outstanding by September 12. HSBC said the latest declaration requirement applies only to investment services clients and is part of meeting regulatory, know-your-customer and customer due diligence requirements.
Key Points
- The reported notices were sent to some existing mainland Chinese investment clients of HSBC Hong Kong, extending scrutiny beyond the new-account opening stage.
- Clients were asked to submit the Declaration for Opening/Maintaining an Account via the HSBC Hong Kong app and refresh contact details by September 12.
- The form requires confirmation that investment funds and related settlement money come from lawful sources outside mainland China.
- HSBC’s notice warned that missing the August 20 deadline could trigger suspension, while missing September 12 could lead to termination of investment services.
- Sing Tao said the declaration contains seven undertakings, including document authenticity, prompt reporting of changes, personal-data disclosure, and possible account closure
Why It Matters
For Hong Kong readers, the move shows compliance checks are not limited to new customers but may also affect existing cross-border investment relationships. It also points to tighter operational requirements for banks serving mainland investors in Hong Kong’s investment market, with service continuity tied to updated declarations and due-diligence records.