Hong Kong regulator publishes cyber security draft rules to guard against broker hacks

Hong Kong’s securities regulator on Monday published a proposal to tighten information security rules after a series of embarrassing hacks at the city’s brokers.

The draft rules by the Hong Kong Securities and Futures Commission (SFC) will include requirements for two-step authentication for account log-in and for brokers to notify clients when a transaction had been made, the proposal said.

In addition, the SFC proposes to expand the scope of existing cyber-security requirements that currently apply to the trading of on-exchange shares to cover internet trading of a range of securities, including unit trusts, mutual funds.

Source: HK regulator publishes cyber security draft rules to guard against broker hacks | Reuters