Tag archives: Hong Kong

Hong Kong SFC Launches Review on Brokers’ Internet and Mobile Trading Systems

Data Protection Report - Norton Rose FulbrightThe Hong Kong Securities and Futures Commission (SFC) has launched a new cybersecurity review to assess the cybersecurity preparedness, compliance and resilience of brokers’ internet and mobile trading systems. This follows the increasing number of security incidents in which customers’ internet and mobile trading accounts were hacked, including 16 incidents involving seven securities brokers and unauthorized trades in excess … Continue reading

Hong Kong Monetary Authority Strengthens Cybersecurity Controls on Banks

Data Protection Report - Norton Rose FulbrightThe Hong Kong Monetary Authority (HKMA) is taking action to tackle cyber security in the banking sector in Hong Kong through the Cybersecurity Fortification Initiative (CFI) – a new comprehensive initiative announced on May 18, 2016, which aims to raise the level of cybersecurity of the banks in Hong Kong. This follows the Hong Kong Securities and Futures Commission’s (SFC) similar initiative … Continue reading

Hong Kong Regulators Step up Enforcement on Personal Data Protection

Data Protection Report - Norton Rose FulbrightOver the past month, Hong Kong Courts and the Securities and Futures Commission (“SFC”) have taken action under the Personal Data (Privacy) Ordinance (“PDPO”) against an insurance agent, a marketing company and a licensed individual for improper handling of personal data, resulting in a Community Service Order, a fine, and an SFC disciplinary action. These … Continue reading

Hong Kong Securities and Futures Commission Focuses on Cybersecurity

Data Protection Report - Norton Rose FulbrightWith its continued focus on cybersecurity, the Hong Kong Securities and Futures Commission (SFC) recently issued a circular to all its licensed corporations (LCs) identifying key areas of concern and suggesting cybersecurity controls. Hong Kong does not have any overarching cybersecurity legislation, and industry-specific regulatory activity in relation to cybersecurity has been limited to date. … Continue reading
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