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Business & FinancePolitical & General

Reuters exclusively reports global banks scrutinizing their Hong Kong clients for pro-democracy ties

Reuters reported exclusively that global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law. Bankers at Credit Suisse Group AG, HSBC Holdings Plc, Julius Baer Gruppe AG and UBS Group AG, among others, are broadening scrutiny under their programs that screen clients for political and government ties and subjecting them to additional diligence requirements.

Article Tags
Topics of Interest: Business & FinancePolitical & General
Type: Reuters Best
Sectors: Equities
Regions: AfricaAsiaEuropeMiddle EastNorth AmericaSouth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text