Tag Archives: Cybersecurity

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

Mitigating cyber security exposures: risk transfer through cyber insurance

Now may be the time to review your cyber risk mitigation strategy and give serious consideration to whether the financial cost of cyber attacks could be transferred to insurers at a fair price. Cyber security is amongst the leading risks … Continue reading

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Filed under Americas, Asia, Australia, Europe, JURISDICTIONS, UK

Ratings downgrades possible for banks with weak cybersecurity

In a note published last week, ratings agency Standard & Poors (S&P) said it viewed banks as natural targets facing a high threat of cyber-risk, although it considered the global credit risk of a cyber attack to be only medium, because it … Continue reading

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Filed under Americas, Asia, Australia, Banking, Europe