Sebi to focus on tech; plans Geotagging solution to boost enforcement activities

Capital markets regulator Sebi is betting large on know-how, because it plans to implement a Geotagging answer within the present monetary yr to strengthen the method of its enforcement actions. While focussing on know-how, Sebi stated it plans to undertake numerous initiatives to spice up its data know-how (IT) capability and construct a “fault-tolerant” structure.

The transfer is geared toward additional enhancing its technological and cybersecurity functionality, and to higher serve its stakeholders.

“In the coming year, Sebi plans to implement a Geotagging Solution to strengthen the process of its enforcement activities,” the regulator stated in its annual report for 2022-23.

Geotagging is the method of including geographical data normally within the type of latitude and longitude coordinates to varied media comparable to pictures, movies, and so on.

The mission intends to implement geotagging technology-based cellular software options, which assist the market regulator to take mandatory pictures or movies on the location with particulars comparable to location, date, and time for conducting web site visits, surveys, and coaching packages.

“The Geotagging Solution is expected to be operationalized in 2023-24,” the Securities and Exchange Board of India (Sebi) stated.

In addition, the regulator is trying to make use of know-how to develop a cyber functionality index (CCI) that may objectively consider the cybersecurity readiness of regulated entities and Sebi itself. Apart from this, Sebi is planning to take measures for ease of doing business initiatives with the assistance of know-how.

The capital markets regulator is planning to combine its e-registration system with businesses like DigiLocker and National Institute Of Securities Market (NISM) by software programming interface (APIs) to facilitate real-time verification of knowledge submitted by intermediaries.

Also, it’s contemplating introducing a web-based doc verification facility to make sure the authenticity of paperwork and notices despatched by Sebi.

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