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ARTICLE · 01 MAY 2025

Sagus Speaks - April 2025 | Part I

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The Securities Exchange Board of India ("SEBI") by Circular No. SEBI/HO/MRD/TPD/CIR/P/2025/50 dated 04.04.2025 ("Circular") has prescribed the standardized format for System and Network audit report of Market Infrastructure Institutions ("MIIs").

IndiaCorporate/Commercial Law
Sagus Legal LLP
Sagus Legal LLP

REGULATORY AND POLICY UPDATES

SEBI notifies standardized format for System and Network audit report of Market Infrastructure Institutions (MIIs)1

The Securities Exchange Board of India ("SEBI") by Circular No. SEBI/HO/MRD/TPD/CIR/P/2025/50 dated 04.04.2025 ("Circular") has prescribed the standardized format for System and Network audit report of Market Infrastructure Institutions ("MIIs"). MIIs consists of Stock Exchange, Clearing Corporations and Depositories.

Presently, all MIIs are required to conduct system and network audit in accordance with the prescribed framework.

However, each MII has adopted different template for such audit report. Through this Circular, SEBI, in consultation with its Technology Advisory Committee and MIIs, has introduced a uniform format for the system and network audit report, replacing the diverse templates previously used by MIIs.

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