Key facts
- Julie Leung, chief of Hong Kong's Securities and Futures Commission, said regulators must cooperate across borders on technology risk.
- Leung said the next stress event may come from technology, which she said is outside regulators' parameters.
- Leung pointed to artificial intelligence adoption and recent cyber security incidents as sources of risk to financial stability.
The head of Hong Kong's Securities and Futures Commission said regulators need to cooperate across borders and look beyond the financial sector, citing artificial intelligence adoption and cyber security threats as challenges to global financial stability. The report did not date the remarks.
"The next stress event may come from technology, and that is outside regulators' parameters," Julie Leung, the SFC's chief, said, according to Risk.net, which reported the comments.
The report gave no further detail on which cyber incidents Leung was referring to, nor on any specific regulatory proposal.