SEBI Launches Incident Reporting, Cyber Suraksha Portals To Strengthen Securities Market Cybersecurity

The Securities and Exchange Board of India (SEBI) has introduced two new cybersecurity platforms to enhance the reporting, tracking, and response to cyber threats in the market. The Incident Reporting Portal offers a structured approach to reporting incidents, aligning with the Financial Stability Board’s format. Additionally, SEBI launched the Cyber Suraksha Portal, serving as a central hub for sharing cybersecurity-related information throughout the securities market ecosystem.

SEBI Chairman Tuhin Kanta Pandey emphasized the importance of resilience across the financial ecosystem, stating that a cyber incident in one institution could spread due to interconnected vendors, technology platforms, and third-party service providers. Pandey proposed a shift from periodic cybersecurity compliance to continuous, risk-based vulnerability management, considering the constant changes in software, cloud configurations, APIs, and third-party dependencies.

He highlighted the growing role of AI in cybersecurity, emphasizing the need for ongoing vulnerability identification, evaluation, prioritization, and resolution. SEBI is also preparing for potential cybersecurity risks linked to quantum computing, treating quantum resilience as a core component of its strategy. The new portals aim to improve communication among market participants and strengthen SEBI's coordinated response to emerging cyber risks in the securities market.