Response to SFC Consultation Paper on proposals to reduce and mitigate hacking risks associated with internet trading
The securities trading regulatory environment is becoming increasingly stringent, especially on cybersecurity management of electronic trading systems. The Securities and Futures Commission of Hong Kong (SFC) has released several circulars and guidelines over the past few years demonstrating the regulator’s enduring recognition of the importance of cybersecurity management.
On 8 May 2017, the SFC proposed a series of baseline requirements in its Consultation Paper on Proposals to Reduce and Mitigate Hacking Risks Associated with Internet Trading to bolster the control practices of internet brokers. The Paper consolidates the control areas that SFC expects in place for internet trading systems.