Tag Archives: Cybersecurity

Hong Kong SFC closes consultation on proposed guidelines to reduce and mitigate hacking risks related to internet trading

On 7 July 2017, the consultation by the Securities and Futures Commission (SFC) on proposals to reduce and mitigate hacking risks associated with internet trading closed. The consultation follows on from the SFC’s thematic review of the resilience to hacking … Continue reading

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Filed under Hong Kong

China Cyber Security Law: Latest Developments

China's Cyber Security Law (CSL) came into force on 1 June 2017. To read the summary of the key systems required to be implemented and their current status prepared by our teams in China and Sydney, click here.  The bulletin … Continue reading

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Filed under Asia, China

Managing risk: a disputes perspective (2017)

Herbert Smith Freehills recently held its annual disputes client conference exploring some key legal and compliance risks facing major corporates. Following opening remarks by Mark Shillito, head of dispute resolution for the UK and US, there were presentations on cyber … Continue reading

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Filed under Banking, Commercial Litigation, Insurance, Investigations, Investment banking, Investment Funds, Retail Banks, UK

China’s Draft Data Localisation Measures: what you should watch out for

The Cyberspace Administration of China (CAC) has published its Measures for the Security Assessment for Personal Information and Important Data Exported Abroad (Draft for Comments) (Draft Measures) on 11 April 2017. The Draft Measures, if enacted, will become the first … Continue reading

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Filed under Asia, China, Corporate Crime

New US Cyber Security sanctions targeting Russia

On 29 December 2016, President Obama signed an Executive Order entitled "Taking Additional Steps To Address The National Emergency With Respect To Significant Malicious Cyber-Enabled Activities".  In an official statement, President Obama said that the Executive Order was issued "in response to the … Continue reading

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Filed under Corporate Crime, Non-UK regulation, Russia, Sanctions and Money Laundering, US

China’s New Cyber Security Law – highlights

China's new Cyber-Security Law was recently issued, with the government downplaying suggestions that the new law would be used to drive foreign technology and products out of the Chinese market. The new Law provides a tighter definition of critical information … Continue reading

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Filed under Asia, Banking, China

Cybersecurity in Hong Kong: SFC’s review of brokers’ internet and mobile trading systems

On 13 October 2016, the Securities and Futures Commission (SFC) announced it had issued a circular launching a cybersecurity review with a focus on assessing the cybersecurity preparedness, compliance and resilience of brokers’ internet and mobile trading systems (Review). The … Continue reading

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Filed under Hong Kong

HKMA’S Cybersecurity Fortification Initiative: what UK bankers need to know

The Hong Kong Monetary Authority (HKMA) has today issued a circular requiring Hong Kong-regulated institutions to implement the HKMA's "Cybersecurity Fortification Initiative" (the Initiative), which consists of three distinct pillars: (1) risk assessment, (2) training and (3) intelligence sharing. The … Continue reading

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Filed under Asia, Banking, Hong Kong, UK

The future face of UK cyber security – the National Cyber Security Centre

The authoritative voice on UK cyber security The UK government has recently confirmed that its National Cyber Security Centre ("NCSC") will begin operations in October 2016. This newest body to be established as part of the UK's continuing fight against … Continue reading

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Filed under UK, Uncategorized

Hong Kong: SFC circular on cybersecurity concerns and recommended controls

The SFC issued a circular to all licensed corporations yesterday, following its recent review of cybersecurity within selected larger licensed corporations.  Firms will wish to give careful consideration to the SFC's recommendations regarding appropriate cyberscurity controls.

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Filed under Asia, Asset management, Banking, Hong Kong, Insurance, Investment banking, Investment Funds