SEBI compliance audit
Overview
The Securities and Exchange Board of India abbreviated as SEBI, is the regulator for the securities market in India. It is owned by the Government of India.SEBI in its circular dated May 30, 2012 gave exit – guidelines for Securities.It had asked exchanges to either mandatory comply to them.
This framework focuses on the Cyber Security and Cyber resilience of all Mutual Funds and Asset Management Companies.
Why your organization need to do SEBI Cyber Security Compliance Audit?
In 2018 and 2019, SEBI has released guidelines for various organisations that fall within the purview including Stock Brokers, Depository Participants, Mutual Funds, Asset Management Companies (AMCs), Stock Exchanges, Clearing Corporations and Depositories.
- Dec 03, 2018: SEBI Guidelines for Stock Brokers and Depository Participants.
- Jan 10, 2019, SEBI Guidelines for Mutual Funds / Asset Management Companies (AMCs).
- Dec 07, 2018, SEBI Guidelines for Stock Exchanges, Clearing Corporations and Depositories.
Phases of SEBI Cyber Security Compliance Audit:
Phase 1: IDENTIFY critical assets and risks.
Phase 2: PROTECT assets by implementing suitable controls and measures.
Phase 3: DETECT incidents, anomalies and attacks using monitoring tools and processes that are befitting.
Phase 4: RESPOND by taking immediate steps after identification of an incident, anomaly or attack.
Phase 5: RECOVER from incident through incident management, DR & BCP Framework.
Service Highlights
Pelta having many years of experience in Information Security Governance Management and regulatory compliance, have a complete approach to assess cyber security requirements. Some of the key areas of the assessment is as follows:
- Information Security Structure and Documentation Review
- Assess the current status of control, policy and control implementation and map against SEBI requirements
- Audit the effectiveness of controls and documentation
- Evaluate the current implementation of policy and controls as against the regulatory requirements.
- Remediation of Gaps Identified
Once the gaps are identified, we develop remediation plan to mitigate the gaps by closely coordinating with the client. During this process, we also assist the client to fix the gaps within a shortest possible time and lowest possible cost.
Once the remediation process is completed, a detailed review of the effectiveness of the overall controls, plan to sustain the compliance requirement is performed. Final outcome of the assessment is reported and reviewed with the client.