HSBC requests part of its onshore existing investment clients to submit the fund source declaration. Failure to submit timely will result in the termination of related services.

BlockBeats News, August 18th. According to Economic Daily News, following the new account opening requirement to confirm the source of funds as from a legitimate overseas channel, some banks in Hong Kong have begun the fund source declaration process for certain existing mainland Chinese investment clients. Reporters learned that HSBC Hong Kong has recently sent notices to some mainland Chinese investment clients, requesting them to submit the "Account Opening/Maintenance Declaration Form" through the HSBC Hong Kong App by September 12th and update their contact information.

The declaration form includes confirming that the investment funds are from a legitimate source outside mainland China, and that the bank may disclose personal information upon request by law enforcement or regulatory agencies. The notice also mentioned that if the declaration form is not submitted by August 20th, investment-related services may be suspended; if not submitted by September 12th, investment-related services may be terminated. In response to this, on August 18th, an HSBC spokesperson exclusively told Economic Daily, "When managing investment client relationships, we will adhere to relevant regulatory requirements."

Therefore, we invite relevant mainland Chinese investors to provide self-declarations and confirm that the information provided in 'Know Your Customer' and 'Customer Due Diligence' is up-to-date and valid. This action helps us consistently provide uninterrupted service to our clients." HSBC emphasized that this latest declaration requirement only applies to investment services clients.