The 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
With 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