Sebi To Enhance Enforcement Activities And Cybersecurity With Geotagging And Techn Initiatives

The Securities and Exchange Board of India (Sebi) is embarking on a technology-driven journey to strengthen its enforcement activities and cybersecurity measures, as outlined in its annual report for the fiscal year 2022-23.

A standout initiative is the forthcoming implementation of a Geotagging Solution, set to bolster Sebi's enforcement processes. Geotagging involves attaching geographical information, such as latitude and longitude coordinates, to various forms of media, including photos and videos. This innovative approach aims to enhance the accuracy and efficiency of site visits, surveys, and training programs carried out by the market regulator.

The Geotagging Solution will leverage mobile application technology, enabling Sebi to capture essential data, including location, date, and time, when conducting various on-ground activities. This will not only streamline operations but also provide a comprehensive record of each engagement. The anticipated operationalization of the Geotagging Solution is scheduled for the fiscal year 2023-24.

Moreover, Sebi is committed to bolstering its cybersecurity readiness through the development of a Cyber Capability Index (CCI). This index seeks to provide an objective assessment of the cybersecurity preparedness of both regulated entities and Sebi itself. In an era of ever-evolving cyber threats, the CCI is poised to play a pivotal role in upholding the security and integrity of India's capital markets.

In a bid to facilitate ease of doing business, Sebi is actively working on integrating its e-registration system with key agencies like DigiLocker and the National Institute of Securities Market (NISM) using application programming interfaces (APIs). This strategic move will enable real-time verification of information submitted by intermediaries, leading to more efficient processes and improved accuracy.

Additionally, Sebi is exploring the introduction of an online document verification facility. This digital verification mechanism aims to ensure the authenticity of documents and notices exchanged between Sebi and market participants. By embracing such technology-driven measures, Sebi is poised to enhance transparency and trust in its interactions with stakeholders.