SEBI streamlines the reporting of cyber incidents by aligning its Incident Reporting Portal with Format for Incident Reporting Exchange Framework

The Securities and Exchange Board of India (SEBI) has issued a circular streamlining the reporting of cyber incidents by the Regulated Entities (REs). Accordingly, it has aligned its Incident Reporting Portal with “Format for Incident Reporting Exchange (FIRE)” Framework developed by Financial Stability Board (FSB).

Key Highlights:

1. FIRE enables a structured incident reporting by defining common information fields, standardized definitions, and consistent classification of incident attributes promoting harmonisation across sectors or jurisdictions.
2. The portal will facilitate reporting of incidents in stages to reflect incident life cycle from initial reporting to intermediate updates and final closure, while acknowledging that certain information may not be available at the time of initial reporting.
3. REs shall report cyber incidents through the Cyber Incident Reporting Portal of SEBI which can be accessed by logging into https://siportal.sebi.gov.in.
4. REs are required to take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules and regulations, if any.

Source: SEBI