The Securities and Exchange Board of India, (SEBI) on September 12, 2024, issued Modifications in Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs).
Based on consultations with MIIs and recommendations of the Technical Advisory Committee (TAC) of SEBI, the Clause 2 on BCP and DR for MIIs stand modified as mentioned in the document attached.
MIIs are advised to collaborate in developing a standardized definition of “near zero data loss” and submit the same to SEBI after taking approval from their respective Standing Committee on Technology (SCOT).
MIIs are required to take necessary steps to put in place systems for implementation of this Circular, including necessary amendments to the relevant bye-laws, rules and regulations, if any.
The provision at para 2.2 of this Circular shall come into force with immediate effect.
The remaining provisions of this Circular shall come into effect 2 months from the date of this circular.
[Notification No. SEBI/HO/MRD/TPD/P/CIR/2024/119]
