The Bombay Stock Exchange, (BSE) on August 31, 2023, issued a notification regarding the Penalties/Disciplinary actions/ for Non-submission of the VAPT Report and Compliance Report or non-closure of open vulnerabilities
This has a reference to the SEBI Circulars SEBI/HO/MIRSD/TPD/P/CIR/2022/80 dated June 07, 2022; SEBI/HO/MIRSD/MIRSDPoD-1/P/CIR/2023/24 dated February 06, 2023, and Exchange Notice No. 20220919-2 dated September 19, 2022, 20221208-43 dated December 08, 2022, 20230207-3 dated February 07, 2023, 20230303-66 dated March 03, 2023 and 20230601-54 dated June 01, 2023, regarding Modification in Cyber Security and Cyber resilience framework for Stock Brokers, Submission of VAPT and Compliance Report, Enhanced obligations and responsibilities on Qualified Stock Brokers.
The following has been stated: -
• It states that in order to ensure strict adherence to the regulatory requirements by Members with the prescribed framework applicable for VAPT submission and timely closure of vulnerabilities, a penalty structure has been prescribed in Annexure A and shall come into effect from submissions of FY 2023-24 (Including Half yearly for QSB’s) and onwards.
• All Members are advised to take note of the above and put in place adequate systems and procedures to ensure strict adherence to the compliance requirements.
• The Annexure has been attached to the document
[Notification No. 20230831-17]
