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PolicyFinanceHong KongReported

Hong Kong sets a dual-track policy for AI use in financial services

See how this story connects

Source: Mayer BrownAlso reported by Clyde & Co

Hong Kong’s Financial Services and the Treasury Bureau issued a policy statement on the responsible application of AI in the financial market on 28 October 2024. It pairs promoting AI uses such as fraud detection, risk assessment and customer service with managing risks to cybersecurity, data privacy and intellectual property. Financial institutions are expected to adopt a risk-based AI governance strategy, keep human oversight, check outputs for hallucinations and tell customers when AI supports decisions.

Why it matters

Banks, insurers and brokers in Hong Kong got a government-level statement of what financial regulators expect from AI use, which the SFC and HKMA then built on.

When
28 Oct 2024
ID
WTA-N-2024-0201
Who
Financial Services and the Treasury Bureau (Hong Kong), HKMA, Securities and Futures Commission (Hong Kong)

Summary by wheresthe.ai, from Mayer Brown and the reporting credited above. We could not open the primary document, so it is marked Reported. Checked against the source on 9 Oct 2026.

Read the original at Mayer Brown

Source copy: download the page as saved on 18 Oct 2026 (PDF). Document the source offers: document 1 (PDF). Also held by the Internet Archive.

Next stop on this Storyline: What happened nextHong Kong SFC sets rules for licensed firms using generative AI models

Cite this story

WTA-N-2024-0201: “Hong Kong sets a dual-track policy for AI use in financial services.” wheresthe.ai, 28 Oct 2024. https://wheresthe.ai/d/hk-fstb-responsible-ai-financial-market-policy-2024-10/ (source: Mayer Brown).

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