The Bombay Stock Exchange (BSE) on October 23, 2023, issued the notification regarding the Cyber Security and Cyber Resilience Audit of Trading Members (TYPE-III).
The following has been stated namely: -
• Trading members using algorithm software (Type III) are required to conduct Cyber Security and Cyber Resilience Audit for the period April 01, 2023, to September 30, 2023.
• The timeline for submission of the aforesaid report is: -
1. Preliminary Audit report: November 30, 2023
2. Action Taken Report (ATR) (If applicable): February 28, 2024
3. Follow-on Audit Report (If applicable): May 31, 2024
• Trading members shall comply with any non-compliance/non-conformities (NCs) pending submissions for Cyber Security and Cyber Resilience Audit for the previous audit period by submitting ATR and/or Follow -on audit report through the BEFS Portal.
• The penalty/disciplinary actions that would be initiated against the Trading Member for Delay/Non-submission of Preliminary Audit Report/Corrective Action Taken Report and Follow-on audit report have been stated in the notification.
• The trading members are required to submit the closure status of all the non-compliances reported in the Cyber Security and Cyber Resilience Audit by submitting a Corrective Action Taken Report (ATR) within 3 months from the due date of submission of the Preliminary Audit Report.
[Notification No. 20231023-1]
