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Sebi Overhauls IT Rules for Market Institutions
22 Jun
Summary
- Sebi proposes consolidating IT regulations for market infrastructure institutions.
- The overhaul aims to simplify compliance and remove redundancies.
- Public comments are due by July 13.
The Securities and Exchange Board of India (Sebi) has initiated a comprehensive review of its information technology regulations applicable to market infrastructure institutions (MIIs). The primary goal is to consolidate and streamline these rules, thereby simplifying compliance for entities such as stock exchanges and clearing corporations.
This regulatory overhaul seeks to remove redundancies and ensure consistency across various technology-related frameworks. Sebi plans to merge provisions from existing master circulars into a single, unified document covering critical areas like cyber security, business continuity planning, and disaster recovery.
Specific proposals include harmonizing capacity planning requirements and simplifying cyber security framework references. The regulator also aims to consolidate rules for co-location and co-hosting facilities, while retaining segment-specific needs. These changes are intended to promote ease of doing business and reduce the compliance burden on MIIs.
Sebi has invited public comments on these proposals, with the deadline set for July 13. The revised framework aims to enhance regulatory clarity and oversight without compromising market integrity.
