Foreign Account Tax Compliance Act (FATCA) is illegal | Hong Kong November 25, 2015gant_admin FATCA is an illegal requirement that HKEx have elected on our banks requiring Hong Kong people to submit their personal information to the US government. Hong Kong is not a US colony and the personal data of our citizens should be sent to a foreign government. FATCA was never approved by LEGCO and I will be writing into LEGCO to have this reviewed immediately.