Hong Kong markets watchdog says it does not think sanctions will affect financial firms

HONG KONG Hong Kong’s markets watchdog is not aware of any aspect of U.S. sanctions imposed on Hong Kong officials that will affect how financial firms carry on their normal operations in the city, a spokesman said on Saturday.

The United States on Friday imposed sanctions on Hong Kong Chief Executive Carrie Lam, the territory’s current and former police chiefs and eight other top officials for what Washington says is their role in curtailing political freedoms in the territory.

“Many global firms have prior experience of properly assessing and responding to specific U.S. sanctions to the extent they may affect any of their clients and related activities,” the spokesman for the markets watchdog said.

The Securities and Futures Commission “is not aware of any aspect of the (national security law) or the U.S. sanctions announced on Friday that would affect the way in which firms carry on their normal operations in Hong Kong”, the spokesman added.

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