Sebi plans to put in place cyber security framework for stock brokers

NEW DELHI: Sebi is planning to come out with a cyber security framework for stock brokers that will help in reducing the impact of potential risks by cyber fraud, data leaks and hacking of trading accounts, a top official said on Wednesday. The framework, aimed at protecting stock brokers as well as their clients, would include measures, tools and processes that are intended to prevent cyber-attacks and improve cyber resilience, Association of National Exchanges Members of India (ANMI) President Kamlesh Shah told PTI here.

The move is part of the capital markets regulator’s investors safeguard mechanism.

The Securities and Exchange Board of India (Sebi) has set-up a panel that consists of representatives from the regulator, stock exchanges and ANMI, a grouping of stock brokers, for framing the guidelines.