Sebi asks AMCs to report cyber-attacks within 6 hours

Mumbai: Market regulator the Securities and Exchange Board of India(Sebi) has asked mutual fund houses to report all cyber-attacks, threats, cyber-incidents, and breaches within six hours of noticing such incidents. In a circular issued on Thursday, Sebi has also asked the AMCs to employ only Indian Computer Emergency Response Team-empanelled firms for undertaking cyber audits.

“All cyber-attacks, threats, cyber-incidents, and breaches experienced by Mutual Funds/ AMCs shall be reported to SEBI within 6 hours of noticing/ detecting such incidents,” said Sebi in the circular. “The incident shall also be reported to CERT-In in accordance with the guidelines / directions issued by CERT-In from time to time.”

Until now there were no uniform standards for reporting as fund houses were required to come up with a cyber threat assessment based on their vulnerabilities, but now the regulator has introduced uniform code.

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