Foreign Politicians 'disregarding Rule Of Law'

The Security Bureau has condemned foreign politicians for exerting pressure on financial institutions that have complied with Hong Kong's laws, accusing them of disregarding the rule of law.

The bureau did not specify which politicians or financial institutions it was speaking of, but it published the statement 24 hours after HSBC bosses appeared before a committee of British lawmakers to face questions on matters including the freezing of accounts of Hong Kong activists.

The statements said that "while local financial institutions have been complying with the laws of Hong Kong and fulfilling their responsibilities regarding the handling of funds from suspected money laundering activities in accordance with the law, some foreign politicians attempted to exert pressure on them".

"The acts by such politicians disregarded the rule of law and were purely politically motivated," a spokesman said.

The bureau said Hong Kong's laws on money-laundering were in compliance with the anti-money-laundering rules set by an intergovernmental organisation, the Financial Action Task Force.

"The Hong Kong Special Administrative Region Government affirms and supports the financial institutions' rightful fulfilment of their legal obligations in assisting in the Police's investigations," the statement concluded.

On Tuesday, HSBC's chief executive, Noel Quinn, told British lawmakers that the bank did not make political or moral judgments when it froze the accounts of Hong Kong activists, saying it had no choice but to comply with the law in any jurisdiction it works in.

He declined to comment on the specific case of fugitive former lawmaker Ted Hui and his family, instead referring members of the Foreign Affairs Committee to statement by the police and the banking regulator.

Mr Quinn also defended the bank's supportive comments towards the SAR's national security law and said a senior executive who signed a petition in favour of the law was not making a "political statement".