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The revised SEBI clause mandates Market Infrastructure Institutions (MIIs) to conduct comprehensive cyber audits at least twice in a financial year. Additionally, MIIs are now required to submit a declaration from the MD/CEO.

According to SEBI circular dated August 2023 (SEBI/HO/MRD/TPD/P/CIR/2023/147) announcing the modifications in Cyber Security and Cyber Resilience framework of Stock Exchanges, Clearing Corporations and Depositories.


In this regard, clause 3 of SEBI circular dated May 20, 2022 (SEBI/HO/MRD1/MRD1_DTCS/P/CIR/2022/68), shall now be read as under:

MIIs are mandated to conduct comprehensive cyber audit at least 2 times in a financial year. Along with cyber audit reports, henceforth, MIIs are directed to submit a declaration from the MD/CEO certifying that :

  • Comprehensive measures and processes including suitable incentive/disincentive structures, have been put in place for identification/detection and closure of vulnerabilities in the organization’s IT systems.

  • Adequate resources have been hired for staffing their Security Operations Center(SOC).

  • There is compliance by the MII with all SEBI circulars and advisories related to cyber security.

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SEBI Cyber Security and Cyber Resilience Audit

Breachseal Auditor Activities

Governance & Compliance

    -Review policies and procedures
    -Assess governance structure
    -Verify compliance with regulations
    -Evaluate training and awareness program
    -Review information sharing practices

Risk Assessment & Management

    -Identify critical assets and data
    -Perform risk assessment
    Evaluate risk management plan
    -Review vulnerability management program
    -Assess penetration testing and security assessments

Protection & Security Measures

    -Review network security controls
    -Evaluate endpoint security
    -Assess application security
    -Review data security controls
    -Evaluate physical security

Incident Response & Recovery

    -Review incident response plan
    -Evaluate data recovery plan
    -Review business continuity plan

Knowledge Sharing & Capacity Building

    -Assess cybersecurity awareness program
    -Evaluate skills development program

Vendor & 3rd Party Management

    -Review contracts with third-party vendors
    -Perform security audits of critical vendors

How Breachseal can help

  • Vulnerability Assessment and Penetration Testing (VAPT) assessment when done twice a year ensures, your application and infrastructure controls are in place to keep your data safe.
  • SOC continues to monitor your infrastructure 24 X 7 X 365 and ensures, there are no hackers lurking around, no new viruses or malware in your application, or infrastructure or the laptops connected to your infrastructure. This will minimize the risk of any breaches that could lead to loss of your customer’s data or any other sensitive data in your organization like your client list, research data, employee credentials, payroll, P&L and tax data.
  • You might have put if off thinking “compliance to these two activities is going to be very expensive”. We offer very competitive cybersecurity audits (VAPT) and SOC monitoring at a price that is unheard of without compromising on the quality. Our AI/ML based SOC platform and tools does most of the work in terms of identifying, managing, resolution of threats.
  • Boost your Digital Defense with Breachseal and align with SEBI's robust framework. From mandatory bi-annual cyber audits to CEO certification, we stand by you in resolving vulnerabilities and ensuring adherence. Act now to secure your digital world!

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