SEBI CSCRF Compliance

The Cyber Security and Cyber Resilience Framework (CSCRF) is a proposed regulatory framework prepared by SEBI to bring about security posture and resilience among the regulated entities (REs). It is a broad guideline aimed at ensuring that the financial institutions are proactive, well-prepared, and committed to the prevention, detection, and mitigation of cyberattacks. It acts as a measure to maintain stability and integrity in the financial market.

The Securities and Exchange Board of India (SEBI) mandates the Cyber Security and Cyber Resilience Framework (CSCRF) to elevate the security posture of regulated entities (REs). Growing cyber threats in the financial sector have spurred SEBI's directive to ensure all market participants implement rigorous cybersecurity measures. Compliance with CSCRF takes care of member firms' sensitive financial data and prevents cyber threats while simultaneously maintaining market integrity.

The CSCRF compliance requirements of SEBI relate to several regulated entities in the financial ecosystem. It may include but are not limited to the following:

• Market Infrastructure Institutions - stock exchanges, clearing corporations, & depositories.
• Qualified REs - large entities that handle significant volumes of sensitive financial data.
• Mid-size REs - Entities with moderate operational risk.
• Small-size REs - Smaller entities with limited exposure to cyber risk.
• Self-certification REs - Entities with assets below a certain threshold.

REs should all assign themselves in the respective category at the beginning of each financial year based on their last year's data and shall retain that classification for a year.

Fail to comply with SEBI's CSCRF guidelines can have serious consequences, including:

• Regulatory fines and financial impact due to legal repercussions
• Suspension or revocation of licenses
• Loss of good reputation and customer trust
• Increased vulnerability to cyberattacks and financial fraud

By ensuring compliance, REs can avoid these risks and maintain a secure and resilient financial infrastructure.

CyberCube Services specializes in providing an integrated cybersecurity and compliance service that is exclusive to SEBI-regulated entities. Our services include:

• SEBI-aligned Audit Framework - Our audits are conducted in strict compliance with the CSCRF by SEBI.
• Specialisation in Regulated Entities - We have our experience in conducting audits for Stock Exchanges, Depositories, Mutual Funds, Asset Managers, Portfolio Managers, Stock Brokers, and other SEBI-regulated entities.
• Complete Compliance Support - From Vulnerability Assessment & Penetration Testing (VAPT) to Security Operations Center (SOC), CyberCube does it all to comply with CSCRF.
• Certified Cybersecurity Auditors - Our team comprises CERT-In empanelled auditors and cybersecurity professionals with ISO 27001, NIST, CIS controls, and other international standards.

• Cybersecurity Risk and Governance Audit - Review of Cyber Risk Management Framework, Governance Structure, and compliance controls in accordance with SEBI Guidelines.
• Vulnerability Assessment and Penetration Testing (VAPT) - To run extensive security testing to reveal and eliminate the risks.
• Security Operations Center (SOC) Assessment - A real-time threat monitoring and incident detection authority per CSCRF standards.
• Incident Response and Crisis Management Review - Periodic audit and validation of incident response plans, cyber crisis management strategies, and regulatory mechanisms for reporting.
• Cyber Capability Index - Measuring levels of cyber resilience according to SEBI-defined metrics for MIIs and qualified entities.
• Data Security & Compliance Checks - Review of data classification, encryption, localization, and compliant data protection measures.
• Submission of Audit Reports and Assistance in Compliance to SEBI-Compilation of standardized audit reports and advising organizations on how to comply with SEBI guidelines.

Ensure your organization complies with the SEBI cybersecurity requirements before the deadline. CyberCube Services provides end-to-end CSCRF audit services to keep your business compliant, resilient, and secure.