Financial institutions: How far are you from the Cyber Security Law?
摘要
On November 7th, 2016, China passed the Cyber Security Law (the “Cyber Security Law”) of the People’s Republic of China (“PRC” or “China”) after three readings of its drafts. The new law is to take effect as from June 1st, 2017. Being the first legislation in the cyber security field, the Cyber Security Law may have profound impacts far beyond expectations. For this reason, an in-depth study of the Cyber Security Law along with the relevant authorities’ further interpretations and practice would be necessary. This article aims to sort out and respond questions about how the Cyber Security Law impact the financial institutions in China, what obligations and responsibilities the financial institutions should particularly watch out for, and which new provisions worth further in-depth analysis.
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