Stockbrokers and depository participants will have to formulate a comprehensive cyber security and cyber resilience policy document in accordance with the guidelines by April 2019.
SEBI (the Securities and Exchange Board of India) has released new cybersecurity guidelines for stockbrokers and depository participants, set to enter into force on 1 April 2019.
“Rapid technological developments in the securities market have highlighted the need for maintaining robust cyber security and cyber resilience framework to protect the integrity of data and guard against breaches of privacy,” SEBI said in a circular.
To manage the risk to systems, networks and databases from cyber attacks and threats, stockbrokers and depository participants in India will be required to formulate a “comprehensive cyber security and cyber resilience policy document” in accordance with the new guidelines. The policy document should include processes to identify and protect critical assets, as well as to detect, respond to, and recover from any cyber incidents that arise.
A senior official or management personnel should be designated to assess, identify and reduce cybersecurity risks; respond to…
