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Informist, Tuesday, Aug 20, 2024

 

--SEBI issues Cybersecurity and Cyber Resilience Framework 

--SEBI: Cybersecurity framework for SEBI regulated entities

 

MUMBAI – The Securities and Exchange Board of India today rolled out a Cybersecurity and Cyber Resilience Framework, with an aim to address evolving cyber threats, align with industry standards, encourage efficient audits, and to ensure compliance by entities under its regulation.

 

The framework will be applicable to alternative investment funds, bankers to an issue and self-certified syndicate banks, clearing corporations, collective investment schemes, credit rating agencies, custodians, debenture trustees, depositories and their participants, KYC registration agencies, merchant bankers, mutual funds, portfolio managers, stock brokers and venture capital funds.

 

In 2015, SEBI had issued norms for market infrastructure institutions to address issues pertaining to cybersecurity. Since certain changes have been made to those norms, SEBI has asked market infrastructure institutions to make the necessary changes by Jan 1. The other regulated entities need to adhere to the framework by Apr 1.

 

The regulated entities will have to put in place appropriate systems and procedures to ensure compliance with the provisions as mentioned in the framework and conduct cyber audits.

 

The framework mandates that all regulated entities establish appropriate security monitoring mechanisms through a security operation centre. "The onboarding of SOC (security operation centre) can be done through RE's own/group SOC or Market SOC or any other third-party managed SOC for continuous monitoring of security events and timely detection of anomalous activities".

 

For smaller regulated entities, SEBI has directed the National Stock Exchange and BSE to set up a Market Security Operation Centre by Jan 1, to provide cybersecurity solutions to them.  End

 

Reported by Kshipra Petkar

Edited by Ashish Shirke

 

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