Securities and Futures Commission Plans Cybersecurity Framework for Licensed Institutions, Sets Higher Requirements for Higher-Risk Firms

The Securities and Futures Commission plans to draw up a cybersecurity framework for licensed institutions and set higher requirements for higher-risk firms to strengthen defences against AI-driven cyber threats. Chief Executive Officer Julia Leung says practical guidance will be drawn up for more autonomous AI applications to ensure human accountability and human oversight. Executive Director of the Intermediaries Division Keith Yip says circulars on cybersecurity and virtual assets will be issued to the industry in the next 2 months.