Asia financial body says China cyber security law could make risk management harder

Hard rules: New cyber security rules in China could make it harder for foreign companies operating in the country to manage risk. — Reuters

HONG KONG: The chief of one of Asia's most prominent financial trade bodies on Nov 8 said new cyber security rules in China could make it harder for foreign companies operating in the country to manage risk as cyber threats become increasingly cross-border.

Speaking at the Thomson Reuters Pan-Asian Regulatory Summit in Hong Kong, Mark Austen, chief executive of the Asia Securities Industry and Financial Markets Association (ASIFMA), said the rules marked a "worrying" development because regulators globally have to work together to address cyber risks rather than attempt to isolate their jurisdictions.