Tuesday, July 15, 2014

Notice of Changes on the Integrated Account Terms and Conditions, effective 15 October 2014

The Hongkong and Shanghai Banking Corporation Limited, 1 Queen's Road Central, Hong Kong.
(852)2233 3000, csv@hsbc.com.hk
香港上海匯豐銀行有限公司,香港皇后大道中1號。(852)2233 3000, csv@hsbc.com.hk
Notice of Changes on the Integrated Account Terms and Conditions, effective 15 October 2014
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Notice of Changes on the Integrated Account Terms and Conditions, effective 15 October, 2014 Dear customer HSBC is committed to conducting business in a way that actively contributes to the safety and stability of our customers, the financial markets and the global banking system. Global regulation increasingly requires banks to put stronger checks in place to ensure the stability of the global finance system, prevent fraud and other financial crimes, and comply with international sanctions and other legal requirements, as well as requiring banks to prove to regulators that they know and understand who their customers are. In this connection, we have updated our Integrated Account Terms and Conditions to reflect a globally consistent approach to sharing customer information and clarify your obligations. Please carefully review the updated Integrated Account Terms and Conditions as set out below to ensure that you understand the changes made and how they may affect you. Please rest assured that your personal data will only be used and disclosed by us in accordance with our Notice relating to the Personal Data (Privacy) Ordinance.
The following clauses in the Integrated Account Terms and Conditions will be amended: 1) Delete existing Clause 2.10 of Section I of Integrated Account Terms and Conditions in its entirety. Re-number subsequent clause numbers.
2) Delete existing Clause 6 of Section I of Integrated Account Terms and Conditions and replace with the following clause: 6 Collection and Disclosure of Customer Information 6.1 Definitions Terms used in this Clause 6 shall have the meanings set out below.
6.2 Collection, Use and Sharing of Customer Information This Clause 6.2 explains how the Bank will use information about the Customer and Connected Persons. The Notice relating to the Personal Data (Privacy) Ordinance (formerly known as Notice to Customers relating to the Personal Data (Privacy) Ordinance) that applies to the Customer and other individuals (the
6.3 Financial Crime Risk Management Activity (a) Financial Crime Risk Management Activity may include: (i) screening, intercepting and investigating any instruction, communication, drawdown request, application for Services, or any payment sent to or by the Customer, or on the Customer's behalf; (ii) investigating the source of or intended recipient of funds; (iii) combining Customer Information with other related information in the possession of the HSBC Group; and (iv) making further enquiries as to the status of a person or entity, whether they are subject to a sanctions regime, or confirming the identity and status of the Customer or a Connected Person. (b) The Bank and HSBC Group's Financial Crime Risk Management Activity may lead to the delay, blocking or refusing the making or clearing of any payment, the processing of the Customer's instructions or application for Services or the provision of all or part of the Services. To the extent permissible by law, neither the Bank nor any member of the HSBC Group shall be liable to the Customer or any third party in respect of any loss (howsoever it arose) that was suffered or incurred by the Customer or a third party, caused in whole or in part in connection with the undertaking of Financial Crime Risk Management Activity. 6.4 Tax Compliance The Customer acknowledges that he is solely responsible for understanding and complying with his tax obligations (including tax payment or filing of returns or other required documentation relating to the payment of all relevant taxes) in all jurisdictions in which those obligations arise and relating to the opening and use of account(s) or Services provided by the Bank or members of the HSBC Group. Each Connected Person acting in his/its capacity as a Connected Person also makes the same acknowledgement in his/its own regard. Certain countries may have tax legislation with extra-territorial effect regardless of the Customer's or a Connected Person's place of domicile, residence, citizenship or incorporation. Neither the Bank nor any member of the HSBC Group provides tax advice. The Customer is advised to seek independent legal and tax advice. Neither the Bank nor any member of the HSBC Group has responsibility in respect of the Customer's tax obligations in any jurisdiction which may arise including any that may relate specifically to the opening and use of account(s) and Services provided by the Bank or members of the HSBC Group. 6.5 Miscellaneous (a) In the event of any conflict or inconsistency between any of the provisions of this Clause 6 and those in or governing any other service, product, business relationship, account or agreement between the Customer and the Bank, this Clause 6 shall prevail. (b) If all or any part of the provisions of this Clause 6 become illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this Clause 6 in that jurisdiction. 6.6 Survival Upon Termination This Clause 6 shall continue to apply notwithstanding any termination by the Customer or the Bank or a member of the HSBC Group of the provision of any Services to the Customer, or the closure of any of the Customer's accounts.
3) Add the following new definition under Clause 1.1 of Section XI of Integrated Account Terms and Conditions:
Please note that the above amendments shall be binding on you if you continue to use or retain your account(s) after 15 October, 2014. If you decline to accept the amendments, you have the right of termination as stated in the relevant clause under the Integrated Account Terms and Conditions. If you wish to terminate your account or should you have any queries, please contact us at branch or call our customer service hotlines stated below: HSBC Premier customers: (852) 2233 3322 HSBC Advance customers: (852) 2748 8333 Other customers: (852) 2233 3000 You may also refer to the details of the above amendments by visiting the HSBC website at www.hsbc.com.hk/personal-download-form. If there is any discrepancy between the English and Chinese versions, the English version shall prevail. Yours faithfully The Hong Kong and Shanghai Banking Corporation Limited

Please do not reply to this email. Should you wish to contact us, please send an email at csv@hsbc.com.hk and we will get back to you.

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