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Professor Marc Moore, Chair in Corporate/Financial Law at UCL Laws, has written a piece published in the Letters section of today鈥檚 Financial Times.

The letter, 鈥樷�� (拢), focuses on HSBC鈥檚 recent decision to suspend its dividend, following pressure from the Bank of England. Professor Moore argues that it would be an 鈥渆rror of judgement鈥� for HSBC鈥檚 Hong Kong retail investors to pursue legal action against the bank or its directors over the dividend cut.

Professor Moore states that: 鈥淗SBC鈥檚 dividend suspension is a rational commercial response to unprecedented circumstances鈥�, and that under these conditions, the shareholders do not have an enforceable legal right to receive regular dividends.

Read the letter in full on the (拢).

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