us-sanctions 23 December 2020

Financial institutions face US secondary sanctions after State Department issues first report under Hong Kong Autonomy Act

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On 14 October 2020, the US State Department issued a much-anticipated report pursuant to section 5(a) of the Hong Kong Autonomy Act (‘HKAA’), identifying ten individuals who were determined by the State Department to be ‘foreign persons’ who ‘are materially…

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