SEBI extends public comment timeline on cloud framework consultation paper

New Delhi:

Capital markets regulator Sebi today announced that it has extended the deadline for public comments on the cloud framework consultation paper to November 28.

The deadline for submitting public comments on the consultation document, which was launched on November 4, was due to end on November 14.

“It has been decided to extend the deadline for submitting comments until November 28, 2022,” Sebi said in a statement.

In early November, the regulator proposed a cloud framework for its regulated entities, highlighting key risks and control measures to consider before adopting cloud-based solutions.

The proposed framework outlines the regulatory and legal expectations of sebi-regulated (RE) entities if they adopt cloud computing solutions.

“Lately, the reliance on cloud solutions to deliver information technology (IT) services is increasing,” Sebi said.

“While cloud solutions offer multiple benefits – ready to scale, ease of deployment, no overhead associated with maintaining physical infrastructure, among others – an ER must also be aware of new risks and challenges in cybersecurity that cloud solutions introduce,” the regulator said. in its consultation document.

As a result, a cloud framework has been developed to effectively address risks and ensure legal and regulatory compliance. According to the proposal, Sebi said there are no limitations to using a cloud deployment model. An RE may adopt cloud computing based on its assessment of business and technology risks.

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