The SEBI circular SEBI/HO/MIRSD/CIR/PB/2018/147 dated on December 03, 2018 made it mandatory for all stockbrokers must comply with the SEBI cyber security framework to maintain robust cyber security and cyber resilience framework to protect the integrity of data and privacy.
It focuses on protecting the data and the privacy of security holders by improving the Cyber Security and Cyber Resilience of the Stockbrokers and Depository Participants. It governs data created, received, or maintained by them wherever these data records are and whatever form they are in, while carrying out their designated duties and functions.
SEBI has been vested with the following powers to discharge its functions efficiently
The applicability of the guidelines issued by SEBI extend to the following:
All the stockbrokers are required to conduct audit and ensure compliance to the guidelines as mentioned above by CISA certified auditor.
The objectives of conduct SEBI System Audit:
Our approach has been covered in 4 phases as mentioned below:
Planning and preparation of the audit scope and objectives.
Assessment, measuring, managing, and controlling IT-related risks, thus enhancing the reliability of processes and the entire information system.
Assessment of controls over critical system platforms, network and physical components, IT infrastructure supporting relevant business processes.
Report audit findings, conclusions, and recommendations of the audit in terms of conformance, non-conformance, and opportunities to improve.