Sebi tweaks cybersecurity and cyber resilience framework for AMCs

The new framework will come into force from July 15

Sebi
Photo: Shutterstock
Press Trust of India
2 min read Last Updated : Jun 09 2022 | 11:07 PM IST
The Securities and Exchange Board of India (Sebi) on Thursday tweaked the cyber security and cyber resilience framework for asset management companies (AMCs) and mandated them to conduct a comprehensive cyber audit at least twice in a financial year.

Along with the cyber audit reports, AMCs have been asked to submit to stock exchanges and depositories a declaration from the managing director (MD) and chief executive officer (CEO), certifying compliance by them with all Sebi guidelines and advisories related to cyber security issued from time to time, according to a circular.

The new framework will come into force from July 15.

Under the modified framework, the asset management firms need to identify and classify critical assets based on their sensitivity and criticality for business operations, services and data management.

Further, business-critical systems, internet-facing applications/systems, systems containing sensitive data, sensitive personal data, sensitive financial data, and personally identifiable information data, among others, should all be considered critical assets.

All auxiliary systems that connect to or communicate with critical systems, whether for operations or maintenance, must be designated as critical systems as well.

The board of AMC is required to approve the list of critical systems.

"To this end, Mutual funds/ AMCs shall maintain an up-to-date inventory of its hardware and systems, software and information assets (internal and external), details of its network resources, connections to its network and data flows," Sebi said.

Great minds don’t just skim the surface, they uncover the full story.

Already subscribed? Log in

Subscribe to read the full story →

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 premium stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :SEBIcybersecurityasset management companies

Next Story