Pro-Democracy NGO Demands Explanation After HSBC Terminates Its Business and Members Accounts

The League of Social Democrats (LSD) whose bank account has been terminated is the last pro-democracy NGO operating in Hong Kong

Members of the League of Social Democrats protested outside HSBC headquarters against the closure of their accounts and the personal accounts of some HSBC members for no reason, in Central, Hong Kong, on June 6, 2023 Choy Pui Man/The Epoch Times

On June 19, The League of Social Democrats (LSD) sent an open letter to HSBC’s CEO Noel Quinn, asking him and HSBC to explain the unwarranted cancellation of the bank accounts of LSD and some of its members.

In February, HSBC notified the LSD of the termination of three of its bank accounts. At the time, HSBC said it had decided to close the accounts after a thorough review but did not give specific reasons, saying only that it had a responsibility to review bank accounts regularly “to protect customers and the financial system.”