[Mainland Investors Face Key Milestones in Dormant Account Verification at Hong Kong Banks, Source of Funds Declaration Crucial for Account Reactivation] BlockBeats News, August 24: Recently, reports have emerged that certain Hong Kong banks have initiated source of funds declaration procedures for some existing mainland investment clients, setting key deadlines such as August 20 (failure to submit may result in suspension of investment services) and September 12 (failure to submit may lead to termination of investment services). According to multiple sources, several licensed institutions in Hong Kong, including HSBC Hong Kong and Hong Kong branches of mainland Chinese banks, have indeed implemented these measures recently, primarily targeting long-term "dormant accounts." An HSBC spokesperson responded: "When managing investment client relationships, we adhere to relevant regulatory requirements. Therefore, we invite relevant mainland investors to provide self-declarations and confirm that the information they provided during 'Know Your Customer' (KYC) and 'Customer Due Diligence' processes is up-to-date and valid. This helps us continue providing uninterrupted services to our clients. The latest declaration requirements apply only to our investment service clients." It is understood that the above measures by Hong Kong banks are still based on the Hong Kong Monetary Authority's May 22 notice (issued in conjunction with the Hong Kong Securities and Futures Commission circular) and not due to any new policies or regulatory directives. (Yicai Global)