SEBI Launches Two Portals to Enhance Cybersecurity in Securities Market

New Delhi, August 17: The Chairman of the Securities and Exchange Board of India (SEBI), Tuhin Kanta Pandey, announced two new initiatives on Monday aimed at strengthening cybersecurity, incident reporting, and information sharing across the entire securities market ecosystem.

Speaking at a seminar on cyber defense, Pandey emphasized that cyber threats transcend organizational and regulatory boundaries, impacting interconnected institutions and even crossing national borders.

As part of efforts to enhance cybersecurity capabilities in the securities market, SEBI has launched a revised Incident Reporting Portal and a new Cybersecurity Portal.

Pandey noted that a cyber incident originating from one organization can spread through vendors, technology platforms, third parties, or other connected institutions. Therefore, it is crucial to bolster cyber resilience not just at the organizational level but across the entire financial ecosystem.

The revised SEBI Incident Reporting Portal aims to make the reporting of cybersecurity incidents more systematic, timely, and useful. This portal aligns with the Financial Stability Board’s (FSB) Incident Reporting Exchange Framework (FIRE), intending to bring greater uniformity to incident reporting and reduce challenges in cross-border reporting.

The second initiative, the Cybersecurity Portal, will serve as a central platform for stakeholders to share cybersecurity-related information. Through this portal, users can exchange information on cybersecurity, alerts related to vulnerabilities, policy measures, and experiences gained from cyber incidents.

Pandey stated that these are not merely technology platforms. Their effectiveness will depend on how institutions utilize them for information sharing, learning from incidents, and responding swiftly.

He added that lessons learned from a cyber attack on one institution should aid in enhancing the security of others. Similarly, effective cybersecurity measures developed by regulators or various countries can benefit the entire financial ecosystem.