SFC issues cybersecurity circular
On March 23, the Hong Kong Securities and Futures Commission (SFC) issued a circular on the importance of cybersecurity following its recent review of selected licensed corporations. The SFC encourages firms to give careful consideration to the SFC's recommendations regarding appropriate cybersecurity controls and identified the following areas of concern:
- Inadequate coverage of cybersecurity risk assessment exercises
- Inadequate cybersecurity risk assessment of service providers
- Insufficient cybersecurity awareness training
- Inadequate cybersecurity incident management arrangements
- Inadequate data protection programs
