Sebi clarified its Cybersecurity and Cyber Resilience Framework for regulated businesses on Tuesday, extending compliance deadlines for some categories and offering regulatory forbearance.
The explanation followed Sebi’s response to stakeholder questions about the framework that was unveiled in August of this year.
The framework is intended to guarantee that Sebi-regulated enterprises (REs) have a strong cybersecurity posture, can successfully endure, respond to, and recover from cyber attacks, and are outfitted with sufficient cyber resilience measures.
“With regard to the compliance requirements, which are effective from January 1, 2025, under the framework, regulatory forbearance is provided till March 31, 2025, Sebi said in a circular.
It further stated that as long as the organizations show progress in putting the framework into practice, they won’t be penalized for non-compliance during this time.
Furthermore, in response to comments about the rationalization of these categories, the circular has extended the compliance date for KYC registration agencies and depository participants to April 1, 2025.
Furthermore, the framework’s data localization principles have been suspended pending additional discussions. These measures, which are described as data security standards, will be announced later, according to the markets watchdog.
An important step in adjusting to changing cyberthreats and technical breakthroughs is the CSCRF.
The regulator emphasized that the framework’s goal is to make regulated companies more resilient so they can successfully endure and recover from cyber catastrophes.
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