The National Stock Exchange (NSE) on April 10, 2023, issued a notification regarding penalties and disciplinary action charges for non-compliances and non-closure reported in the System Audit Report and Cyber Security and Cyber Resilience Audit Report of Trading Members.
In order to ensure strict adherence to the regulatory requirements by Members with the prescribed framework applicable for System Audit & Cyber Security and Cyber Security resilience audit reports, the penalty has been prescribed and shall be applicable for Non-Compliances reported in preliminary audit report submissions made for the half year ended September 2023 and onwards as provided under Table – A mentioned in the document.
It is also required to submit the closure status of all the Non-Compliances reported in System Audit and Cyber Security and Cyber Resilience Audit by submitting Action Taken Report (ATR) i.e. within 3 months from the due date of submission of the Preliminary Audit Report. In order to ensure strict adherence to the closure of Non-Compliances within the prescribed timelines, the penalty as provided in Table B mentioned in the document shall be applicable for non-closure of observations reported in ATR submissions.
[Notification No. NSE/INSP/56308]
