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ORSO News

General notice to WMFS scheme participants regarding the Executive Order 13959

HSBC Life (International) Limited ("HSBC Life") is committed to observing applicable legal and regulatory requirements. In respect of the Executive Order 13959 (as amended) signed by the former President of the United States of America "Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies" ("Executive Order"), because the prohibitions under the Executive Order apply to the activities of United States persons (as per the Executive Order), at this time HSBC Life does not view the Executive Order as impacting its abilities to continue to hold or invest in the securities targeted by the Executive Order prohibitions ("impacted securities") in the HSBC Life Wayfoong Multi-funding System ("ORSO Scheme") as a matter of US sanctions law.  United States persons, however, may be prohibited under US law from engaging in certain transactions with the ORSO Scheme as a result. 
 

ORSO Scheme participants ("Participants") who fall under the category of United States person should, however, take note that some of our investment choices, particularly those with the investment objective and exposure to investments in Asian, China and Hong Kong markets, may result in having an investment exposure to the impacted securities and therefore may not be appropriate for United States persons to invest in as a result of the Executive Order. Participants may wish to visit the United States Department of Treasury website for additional information and are reminded to perform your own due diligence and seek professional advice where necessary for taking appropriate action to avoid violation of any applicable laws and regulations (including the Executive Order).

Important notes

  • The information contained in this website is for reference only and will be updated from time to time without notice. The provisions of the Occupational Retirement Schemes Ordinance, other applicable legislation/regulations and guidelines or announcements published by the Mandatory Provident Fund Schemes Authority and/or Securities and Futures Commission shall prevail for any information on ORSO system. If you are in doubt about the meaning or the effect of the contents of this website, you should seek independent professional advice.
  • Investment involves risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the relevant brochure.