Less than a month after HSBC group chief Noel Quinn apologized to Hong Kong activist Ted Hui by email, a group of over 50 lawmakers worldwide wrote a letter demanding answers from chairman Mark Tucker.
In a letter addressed to HSBC chairman Mark Tucker, the Inter-Parliamentary Alliance on China (IPAC) – an international coalition focused on reforming approaches to engage the second-largest economy – slammed the British lender for its actions against pro-democracy activists.
In addition to previous moves to freeze accounts belonging to a charity and a Christian church, the letter specifically addressed concerns about self-exiled Hong Kong lawmaker Ted Hui and his family’s bank accounts which remain frozen today.
The letter was signed by over 50 legislators from 16 legislatures including Australia, Canada, France, Germany and the U.K.
Warrant Needed
While HSBC CEO Noel Quinn claimed that the bank was acting on the instructions of police who accused Hui of misappropriating funds and money laundering, the IPAC letter underlined the need nonetheless to show evidence of the order.
«The Hong Kong Police have accused Hui of misappropriating funds and money laundering in politically motivated charges targeting a crowdfunding appeal for lawsuits against police brutality set up by Hui,» it said.
«Notably, HSBC has failed to give evidence of any court order or warrant sought by the police in freezing bank accounts of his and his family members.»
Property Rights
In addition to Hui’s account, the letter highlighted that Hui’s family members have also had their accounts frozen but without charges.
«It is also highly concerning that Hui’s family members’ HSBC accounts are frozen, despite not having been subject to any charges by the Hong Kong authorities. In doing so HSBC has compromised clients’ assets and private property rights without regard to the law and due procedures,» the letter explained.
«Until now, HSBC has failed to respond to Hui’s family’s formal complaints or explain the matter in open air.»
IPAC Demands
The letter specifically made three demands to Tucker: unfreeze Hui and his family’s accounts; provide a formal explanation for the decision to freeze the accounts; and «publicly commit to protecting the access to funds of individuals and their families subject to politically motivated charges issued by the Chinese and Hong Kong authorities».
«The incidents above are not detrimental only to Hui and his family’s well being but also gravely tarnish HSBC’s reputation as a socially responsible enterprise operating under the rule of law,» IPAC added.
«These actions undermine the open societies and free economies that underpin HSBC’s success.»
