Securities and Exchange Board of India(Sebi) penalised NSE Data and Analytics Ltd for its failure to segregate IT infrastructures and manpower between itself and its guardian agency National Stock Exchange (NSE), and has been directed to deposit a penalty of Rs 12 lakh inside 45 days.
Sebi recognized irregularities associated to the backup of data and the Business Continuity Plan/Disaster Recovery coverage.There had been additionally delays in sending acknowledgment letters to buyers, inconsistencies in system audit experiences and the cyber safety audit framework. In addition, the corporate additionally didn’t validate KYC data.
Sebi the KYC registration company on September 6-7, 2023, to deal with potential violation of regulatory norms and the interval lined April 1, 2022, to July 31, 2023.
Sebi stated, “There was no segregation of any IT infrastructures (server, network, data centers and IT security), along with the IT manpower, responsible for handling server management, network, data centers and IT security between the noticee (NSE Data And Analytics) and its parent organization (NSE)”.
NSE Data And Analytics responded that they’ve taken many corrective steps.
