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

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