Regulatory updates

In order to enable the users to have access to all the informal guidance sought/given relating to SEBI (Prohibition of Insider Trading) (PIT) Regulations, 2015 at one place, SEBI has released a Compilation of Informal Guidance – SEBI (Prohibition of Insider Trading) Regulations, 2015. The publication consolidates all the informal guidance issued in this regard during the period 14 October 2015 to 30 September 2022.

To access the text of the publication, please click here

The LODR Regulations prescribe the continuous disclosure requirements for issuers of listed Non-Convertible Securities, Securitised Debt Instruments and Commercial Papers. In this regard, multiple circulars have been issued over the years, covering various operational and procedural aspects thereof. With a view to ensure effective regulation of the corporate bond market and to enable the issuers and other market stakeholders get access to all the applicable circulars at one place, SEBI has issued an operational circular, thereby compiling the relevant existing circulars along with the consequent changes, if any.

To access the text of the operational circular, please click here

Financial sector organisations, stock exchanges, depositories, mutual funds and other financial entities have been experiencing cyber incidents, growing rapidly in frequency and sophistication.

Further, given the persistence of these threats, many traditional approaches to risk management and governance that worked in the past may not be comprehensive enough to address the rapid changes in the threat environment.

In order to address these concerns, recently, SEBI vide a circular dated 22 February 2023 issued an advisory for SEBI REs regarding cybersecurity best practices (the advisory), wherein it has recommended the SEBI REs to implement the practices as suggested by the Financial Computer Security Incident Response Team (CSIRT-Fin). Some of the best practices discussed pertain to:

• Roles and responsibilities of Chief Information Security Officer (CISO)/designated officer,
• Measures against phishing attacks/websites,
• Measures for data protection and data breach,
• Log retention,
• Password policy/authentication mechanisms, etc.

To access the text of the advisory, please click here