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SEBI constitutes IT Project Advisory Committee to provide technical knowledge

05 August 20224 mins read by Angel One
SEBI constitutes IT Project Advisory Committee to provide technical knowledge
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An Overview

The Securities and Exchange Board of India (SEBI) has set up an IT Projects Advisory Committee to advise the market regulator on projects involving sophisticated technologies such as artificial intelligence, machine learning, data analytics, and cloud computing.

According to an update available with the regulator, the seven-member team, led by Abhay Karandikar, a director at IIT Kanpur, would provide advice on how to modernise existing SEBI IT systems and solutions with the latest IT practises, techniques, tools, and technologies. It will also provide technical insights during the project’s implementation, such as user acceptance, final acceptance, and warranty initiation.

Further Key Takeaways

Members of the IT Projects Advisory Committee may also be nominated to the SEBI expert committee for IT project dispute settlement. Separately, the Securities and Exchange Board of India (SEBI) has reorganised its technical advisory group, which makes recommendations for market structure adjustments and enhancements in light of technological developments.

D B Phatak, a former professor at IIT Bombay, will chair the seven-member committee. Previously, the panel consisted of five members. SEBI also gets advice from the panel on how to develop suitable policies in light of technology advancements in areas like wireless trading, algorithmic trading, and smart order routing.

It establishes guidelines for the market infrastructure institution’s disaster recovery plan, business continuity plan, and system audit, according to the statement.


The investor charter, which will be announced next month by the SEBI, will not be legally obligatory

Early next month, the Securities and Exchange Board of India (SEBI) is expected to announce the investor charter. The investor charter, according to sources, will include SEBI’s objective and vision for investors. Investors’ rights and duties will also be covered. The charter, on the other hand, will just serve as a guide and will not be legally obligatory.

Furthermore, in accordance with corporate governance standards, market intermediaries such as mutual funds, stock exchanges and publicly traded companies will have rules and regulations for investors in the securities market. The charter was approved by SEBI’s board of directors in September. It was then discussed with market infrastructure institutions (MIIs) and other registered intermediaries in further depth.

The goal of formalising a charter is to make it easier for investors in the securities markets to acquire all of the information they need in one location. This includes their rights, services supplied by various entities, timetables for certain services, and grievance and resolution mechanisms for investors.


Frequently Asked Questions (FAQs)

Q1. What is artificial intelligence’s purpose?

The primary goal of AI is to enable computers and machines to perform cognitive functions such as problem-solving, decision making, perception, and communication comprehension.

Q2. What is the purpose of machine learning?

Machine learning is utilised in many apps on our phones, including search engines, spam filters, websites that generate personalised recommendations, banking software that detects suspicious transactions, and speech recognition.

Q3. What are some of the advantages of cloud computing?

Having your data saved in the cloud means that it is backed up and secured in a secure and safe location, regardless of whether you encounter a natural disaster, power outage, or other crisis. Being able to immediately access your data allows you to continue doing business as usual, minimising downtime and lost productivity.


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