Left Menu
Development News Edition

Sebi plans to implement governance structure to ensure ongoing compliance

Sebi plans to implement governance structure to ensure ongoing compliance
Image Credit: ANI

Markets regulator Sebi is looking to prepare and implement a governance structure, which is custom-made to suit to the needs of business, and advising its "staff of their obligations to ensure ongoing compliance". The regulator plans to prepare policy documents, standard operating procedures (SOPs) and other IT documents through consultations as Sebi has certain policy documents in place which might require variations as per the best industry standards and practices.

Accordingly, the markets watchdog has invited expressions of interest (EoI) from agencies for consultation for information technology (IT) policy preparation, risk assessment and SOP documentation at Sebi. "Sebi expects to prepare and implement a suitable governance structure i.e. comprehensive policy and procedure documents that are custom-made to suit to the needs of the business and advising staff of their obligations to ensure ongoing compliance," the markets regulator said in a notice.

Sebi is of the view that a well-written organization-level IT policies, procedures and manuals reduce operating costs and improve performance by enhancing consistency and establishing clear criteria for computer, network, hardware, software, information security, and IT vendor management. It, further, said establishing a consistent IT SOP best practices and operational methods are an important component in safeguarding information systems, IT assets as well as IT investments.

The agency is required to form in-depth risk assessment for IT infrastructure deployment. The risk assessment needs to include identification of foreseeable threats, assessment of the likelihood and potential damage of these threats, and the sufficiency of controls to mitigate risks. The agency needs to conduct risk assessment of IT infrastructure deployment at Sebi annually, calculate risk score accordingly, review controls and its impact on policies and SOPs and changes required in the reviewed policies and SOPs.

After completion of risk assessment, the agency is expected to review all the existing policies and SOPs. Spelling out the eligibility criteria, the Securities and Exchange Board of India (Sebi) said bidder should be "fit and proper" and not be a blacklisted one and need to submit bidding documents till March this year.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Handling fake news Infodemic in time of Coronavirus epidemic

Social media has provided a platform where everybody can disseminate his her views without any supervision. Its excellent if the message is genuine but misinformation is equally disastrous. Health is such a topic where every Tom and Harry c...

Sentiment Analysis on Budget 2020: Long shot for solution to economic worries?

Industries and individuals alike had high expectations from the government to take tangible steps but the budget 2020 seems to have failed expectations....

How can technology help the future of mobility?

More than a billion people or one-third of the global rural population lacked access to all-season roads and transport services in 2016, subsequently hindering the socio-economic development....


Latest News

14 test positive among US plane evacuees from Japan coronavirus ship: State Dept

14 test positive among US plane evacuees from Japan coronavirus ship State Dept....

Police fatally shoot man connected to carjackings, stabbing

Newbury, Feb 17 AP Police officers shot and killed a man connected to carjackings in Massachusetts and New Hampshire, authorities said. At a Sunday night press conference, Massachusetts officials said the 31-year-old man shot was believed t...

Telecom shares mixed; Voda Idea up over 11 pc

Shares of telecom companies were trading on a mixed note in early market hours on Monday. While Vodafone Idea stock gained 11.34 percent to Rs 3.83,Bharti Airtel stock was trading 0.27 lower at Rs 563.60 on the BSE. State-owned MTNL was dow...

Virus time crime: Hong Kong police bust toilet paper gang

Knife-wielding robbers in Hong Kong stole 50 packs of toilet paper rolls from a supermarket delivery man, police said on Monday, in a sign of the times for a city worried sick by the coronavirus outbreak across the causeway in mainland Chin...

Give Feedback