The Pension Fund Regulatory and Development Authority (PFRDA) on November 23, 2023, issued a circular regarding the adoption of cloud services by intermediaries regulated by PFRDA.
The following has been stated: -
•This circular is issued in of powers conferred under Sec 14(1) read with Sec 14(2) clause (a) of the PFRDA Act, 2013, and to protect the interests of subscribers. The circular is being issued to enable and equip the intermediaries with a policy framework on the adoption of cloud services by intermediaries for the services being rendered by them.
•The policy also lays down the regulatory and legal requirements and compliances by the intermediaries, if they adopt the cloud services.
•In view of the above, the Authority puts in place a framework or policy on the adoption of cloud services by registered intermediaries to address the risks effectively and ensure regulatory compliance. The said policy shall be in addition to the referred guidelines and the adoption of cloud services shall be as part of the outsourcing of the activities by the registered intermediaries.
•The intermediaries who have already adopted or intend to adopt cloud services are hereby advised to comply with the policy which is attached as Annexure.
The detailed circular is given in the document attached below.
[Circular No. PFRDA/2023/33/ICS/01]
