Sebi plans geotagging technology solution to boost enforcement activities

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Sebi plans geotagging technology solution to boost enforcement activities
Sebi plans geotagging technology solution to boost enforcement activities

The intent of the project is to implement geotagging technology-based mobile application solutions that help the market regulator take necessary photos or videos at the location with details such as location, date, and time for conducting site visits, surveys, and training programs

As Sebi plans to implement a geotagging technology solution in the current financial year to strengthen the process of its enforcement activities, the capital markets regulator is betting big on technology.

Sebi said it plans to undertake various projects to boost its information technology (IT) capacity and build a “fault-tolerant” architecture while focusing on technology.

Enhancing its technological and cybersecurity capabilities further and better serving its stakeholders is the aim of the capital markets regulator.

“In the coming year, Sebi plans to implement a Geotagging Solution to strengthen the process of its enforcement activities,” the regulator said in its annual report for 2022–23.

For various media such as photos, videos, etc., geotagging is the process of adding geographical information, usually in the form of latitude and longitude coordinates.

The intent of the project is to implement geotagging technology-based mobile application solutions that help the market regulator take necessary photos or videos at the location with details such as location, date, and time for conducting site visits, surveys, and training programs.

“The Geotagging Solution is expected to be operationalized in 2023–2024,” the Securities and Exchange Board of India (Sebi) said.

To objectively evaluate the cybersecurity readiness of regulated entities and Sebi itself, the regulator is looking to use technology to develop a cyber capability index (CCI).

Sebi is also planning to take measures for ease of doing business initiatives with the help of technology.

With agencies like DigiLocker and the National Institute Of Securities Markets (NISM), the capital markets regulator is planning to integrate its e-registration system through application programming interfaces (APIs) to facilitate real-time verification of information submitted by intermediaries.

Also, to ensure the authenticity of documents and notices sent by Sebi, it is considering introducing an online document verification facility.

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