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StatementFinanceHong KongConfirmed

Hong Kong SFC chief says licensed firms, not their AI, answer for conduct breaches

See how this story connects

Source: Securities and Futures CommissionAlso reported by KPMG China

Julia Leung, chief executive of Hong Kong’s Securities and Futures Commission, told the Hong Kong Investment Funds Association’s 16th annual conference on 5 June 2023 that generative AI could be used to support asset managers’ decisions. She said the SFC expects licensed corporations to test AI thoroughly before deployment, watch the quality of the data it uses, assign qualified staff and keep senior management oversight. For any conduct breach, she said, the SFC would hold the licensed firm responsible.

Why it matters

Fund managers and brokers in Hong Kong were told that using generative AI does not move accountability away from the licensed firm, a position the SFC set out formally in its November 2024 circular.

When
5 Jun 2023
ID
WTA-N-2023-0130
Who
Securities and Futures Commission, Hong Kong Investment Funds Association; Julia Leung

Summary by wheresthe.ai, from Securities and Futures Commission and the reporting credited above. Checked against the source on 9 Oct 2026.

Read the original at Securities and Futures Commission

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

Next stop on this Storyline: Led toHong Kong SFC sets rules for licensed firms using generative AI models

Cite this story

WTA-N-2023-0130: “Hong Kong SFC chief says licensed firms, not their AI, answer for conduct breaches.” wheresthe.ai, 5 Jun 2023. https://wheresthe.ai/d/hk-sfc-leung-generative-ai-licensed-firms-2023-06/ (source: Securities and Futures Commission).

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