Market regulator Sebi mulls consolidated framework for cyber security

The Securities and Exchange Board of India (Sebi) on Tuesday proposed a consolidated framework for cybersecurity, laying down a common structure for various regulated entities like stock exchanges, brokers, asset management companies and portfolio managers, among others.

In a consultation paper, titled Consolidated Cybersecurity and Cyber Resilience Framework (CSCRF), the markets regulator said that the new framework would supersede nearly 15 circulars issued separately for various segments since 2015.

Sebi noted that the new consolidated framework has been based on five concurrent and continuous functions of cybersecurity, namely: identify, protect, detect, respond, and recover.