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ARTICLE · 13 JANUARY 2025

SEBI's Cybersecurity Clarifications; A Step Towards A Smoother Transition

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On 20 August 2024, the Securities and Exchange Board of India (SEBI) issued the Cybersecurity and Cyber Resilience Framework (Cybersecurity Framework) to provide standards and guidelines for strengthening cyber resilience and maintaining robust cyber security of SEBI regulated entities (REs).

IndiaTechnology
Tanu Banerjee
Tanu Banerjee
Ishan Johri
Ishan Johri
Akriti Sirsalewala
Akriti Sirsalewala
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Introduction

On 20 August 2024, the Securities and Exchange Board of India (SEBI) issued the Cybersecurity and Cyber Resilience Framework (Cybersecurity Framework) to provide standards and guidelines for strengthening cyber resilience and maintaining robust cyber security of SEBI regulated entities (REs). Please refer to our detailed analysis of the Cybersecurity Framework here.

Due to receipt of various queries from REs, SEBI issued a clarification on 31 December 2024, clarifying the following:

  • Regulatory forbearance

SEBI had initially prescribed that the following REs will be required to comply with the Cybersecurity Framework from 1 January 2025: (a) Market Infrastructure Institutions, (b) Stock-brokers and depository participants, (c) mutual funds / asset management companies, (d) KYC registration agencies, (e) qualified registrar to an issue and share transfer agents, and (f) portfolio managers (collectively, Previously Regulated REs). For all other

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