SEBI clarifies on cyber security & cyber resilience framework for Stock Brokers or Depository Participants

Oct 16, 2019 | by Avantis RegTech Legal Research Team

The Securities and Exchange Board of India (SEBI) on October 15, 2019 has issued circular on cyber security & cyber resilience framework for Stockbrokers or Depository Participants vide circular SEBI/HO/MIRSD/CIR/PB/2018/147 dated December 03, 2018.

Following guidelines are issued for submission of report or information in respect of paragraph 52 of Annexure A of the circular SEBI/HO/MIRSD/CIR/PB/2018/147 which states that the Quarterly reports should be submitted to Stock Exchanges or Depositories:

1.A format for submitting the reports is attached as Annexure.

2.For the quarter ended on September 30, 2019, quarterly reports shall be submitted            by stockbrokers or depository participants not later than November 30, 2019 as per            the format specified.

3.Effective from quarter ending on December 31, 2019, the time period for submission          of the report shall be 15 days after the end of the quarter. 

4.The mode of submission of such reports by the stockbrokers or depository                          participants may be prescribed by Stock Exchanges or Depositories.

With reference to circular SEBI/HO/MIRSD/CIR/PB/2018/147, paragraph 58 of Annexure 1, being modified, the qualified auditors can audit the systems of depository participants and stockbrokers to check the compliance of cyber security and cyber resilience and their periodicity shall be annual.




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