Hong Kong Monetary Authority (HKMA)

On 24 October 2019, a third round of draft amendments (” Third Draft “) to the “Information Technology Personal Information Security Specification” (National Standard GB/T 35273- 2017) (GB/T 35273-2017) (” Spec ification “) were issued. This Third Draft follows two earlier versions that had been released for public consultation on 1 February 2019 and 25

This article, published in Computer Law & Security Review, takes a look at the Hong Kong Monetary Authority (HKMA)’s Open Application Programming Interface Framework for the Banking Sector (Open API Framework), which was issued on 18 July 2018, with the aim to encourage the development of innovative technology solutions and the amalgamation of information by

In this article, we examine the revised Guideline on Authorisation of Virtual Banks (Revised Guideline) issued by the Hong Kong Monetary Authority (HKMA) on 30 May 2018, which sets out the principles that the HKMA will take into account in deciding whether to authorise a virtual bank in Hong Kong. The Revised Guideline is intended

Computer and Telecommunications Law Review has published Gabriela Kennedy’s article on a statement issued by the Hong Kong Privacy Commissioner (PC) setting out advice on the collection of personal data by Stored Value Facilities (SVF) operators, as the first five stored value facility licenses were granted by the Hong Kong Monetary Authority (HKMA) under the

Computer and Telecommunications Law Review has published Gabriela Kennedy’s article on personal data and cybersecurity risks that often arise when a company develops a Bring-Your-Own-Device (BYOD) practice. Gabriela discussed the new Information Leaflet issued by the Hong Kong Privacy Commissioner, which aims to help companies continue to comply with the Personal Data (Privacy) Ordinance (Cap.

Payments & FinTech Lawyer has published Gabriela Kennedy’s article on a statement issued by the Hong Kong Privacy Commissioner (PC) setting out advice on the collection of personal data by Stored Value Facilities (SVF) operators, as the first five stored value facility licenses were granted by the Hong Kong Monetary Authority (HKMA) under the Payment

On 25 August 2016, the HKMA announced that it had granted five stored value facility (SVF) licences, which are the first set of such licences granted by the Hong Kong Monetary Authority (HKMA) under the new Payment Systems and Stored Value Facilities Ordinance (Cap. 584) (PSSVFO). On the same date, the Hong Kong Privacy Commissioner

Greater scrutiny of financial institutions and contactless credit card payments is now the norm against the backdrop of increasing cybersecurity threats. While financial institutions are clearly subject to stringent regulations on their handling of customer data and money and security obligations, there was no control over new entrants to this market, whose main sphere of