Some Hong Kong-licensed banks, including HSBC Hong Kong and Hong Kong branches
of mainland Chinese banks, have begun requiring source-of-funds declarations
from a subset of existing mainland China investor accounts—primarily
long-dormant accounts—setting Aug. 20 (non-submission may lead to suspension of
investment services) and Sept. 12 (non-submission may lead to termination of
services) as deadlines. The checks extend prior SFC and HKMA guidance that new
mainland retail accounts confirm funds originate from legitimate offshore
channels.
