HSBC Defends Against U.S. Lawmakers Claims Over Hong Kong Moves

HSBC Holdings Plc defended itself against claims by U.S. lawmakers it froze accounts of activists in Hong Kong, saying it must comply with local laws in all jurisdictions and that it respects human rights in the Chinese territory.

HSBC doesn’t take into account the political affiliation of any of their clients, and doesn’t “target” U.S. citizens or its legal permanent residents, according to a March 21 letter by Robert Hoyt, HSBC’s chief legal officer, to several U.S. senators including Jeff Merkley and Marco Rubio. The letter was seen by Bloomberg News.

In the letter, the London-based bank said ...