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SFC Cybersecurity Review of Internet/Mobile Trading Systems
17 October 2016
View Client Update
The Hong Kong Securities and Futures Commission ("SFC") has announced a review of the cybersecurity preparedness, compliance and resilience of brokers’ internet/mobile trading systems.
Licensed corporations must have adequate controls for preventing and detecting cyberattacks and a written contingency plan for dealing with a cyberattack when it happens.
Licensed corporations that fail to have adequate cybersecurity controls risk enforcement action.
The SFC’s prioritization of cybersecurity mirrors actions taken by other financial regulators in key markets, including the U.S. and U.K.
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