HK SFC issues guidance on cybersecurity controls

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The Securities and Futures Commission (SFC), Hong Kong’s securities regulator, recently released comprehensive guidance on suggested cybersecurity controls within licensed corporations (LCs). Although it only applies to LCs regulated by the SFC, it represents the most comprehensive guidance issued by a Hong Kong authority on cybersecurity, and provides useful insight on how organisations can effectively guard against cybersecurity threats.

Padlocks-2The Circular to all Licensed Corporations on Cybersecurity, issued on 23 March 2016, followed a review by the SFC of the effectiveness of cybersecurity controls within certain larger-sized LCs in Hong Kong.

While the SFC review revealed most LCs had proactive cybersecurity control frameworks in place, deficiencies in five key areas were identified.

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Business Law Digest is compiled with the assistance of BAKER & MCKENZIE. Readers should not act on this information without seeking professional legal advice. You can contact Baker & McKenzie by e-mailing Danian Zhang at danian.zhang@bakermckenzie.com, or for general enquiries contact Anand Ramaswamy at anand.ramaswamy@bakermckenzie.com

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