SEBI Modifies Cyber Security and Cyber resilience framework of Stock Brokers / Depository Participants – 07th June, 2022

Mehta & Mehta > SEBI Updates > SEBI Modifies Cyber Security and Cyber resilience framework of Stock Brokers / Depository Participants – 07th June, 2022
  • SEBI, vide circular dated 03rd December, 2018 prescribed framework for Cyber Security and Cyber Resilience for Stock Brokers / Depository Participants.
  • Further, SEBI vide its circular dated 07th June, 2022 made partial modifications in the Paragraph – 11, 41, 42 and 44 of the Annexure -1 of SEBI Circular dated 03rd December, 2018.
  • SEBI mandated Stock Brokers / Depository Participants to conduct comprehensive  cyber  audit  at  least once in a financial year. Further, along with the Cyber audit report, a declaration from the MD/ CEO/ Partners/ Proprietors certifying compliance by all  SEBI  Circulars  and  advisories related to Cyber security from time to time.
  • Other than that, Stock Brokers / Depository Participants shall take necessary steps for implementation of this Circular and are directed to communicate the status of implementation of the circular to  Stock  Exchanges/ Depositories within 10 days from the date of this Circular.
  • The provisions of the Circular shall come into force with immediate effect.

Link to the Circular:
https://www.sebi.gov.in/legal/circulars/jun-2022/modification-in-cyber-security-and-cyber-resilience-framework-for-stock-brokers-depository-participants_59581.html
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