Sebi Plans Greater Push to Secure Marketplace from Cyber Risks

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Markets regulator Sebi is mulling a greater push to put in place strong safeguards against cyber threats to bourses, brokerages and other entities, amid concerns over the largest-ever banking data breach where in 32 lakh debit cards are feared to have been 'compromised'. 

 

The regulator will also look at the best global practices in this regard including through inputs from the regulatory authorities in advanced markets, while consultations will be held with government entities as well as with the information technology and cyber security experts, a senior official said. 

 

While the Securities and Exchange Board of India (Sebi), which is mandated to regulate stock exchanges, clearing corporations, brokerages, portfolio managers, fund houses, rating agencies and a host of other entities in the capital market space, is already in the process of appointing a chief IT security officer to oversee various initiatives aimed at protecting the marketpace from cyber threats.