SEBI Asks Mutual Funds to Conduct Cyber Audits Biannually

The Securities and Exchange Board of India has directed mutual funds and asset management companies to conduct comprehensive cyber audits twice a year and give a declaration certifying compliance: circular.

• The market regulator also modified mutual funds’ cyber security and resilience framework on Thursday asking them to identify and classify critical assets based on their sensitivity across business operations
  • “To this end, Mutual Funds/AMCs shall maintain up-to-date inventory of its hardware and systems, software and information assets (internal and external), details of its network resources, connections to its network and data flows.”
• The regulator also asked mutual funds to carry ...