India's securities market regulator launched three new Information Technology platforms on 24 March, marking a significant step towards digital transformation of regulatory oversight, according to a statement by the regulatory body on Friday (11 April).
The Securities and Exchange Board of India (SEBI) unveiled SUPCOMS, an e-adjudication portal, and the Cyber-Sec Audit Compliance (C-SAC) system to boost ease of doing business and strengthen cybersecurity supervision of regulated entities.
SUPCOMS serves as a single universal platform for communications, replacing traditional email-centric interactions with SEBI and ensuring all communications are easily accessible whilst creating a robust institutional memory.
The platform centralises all official interactions with external entities, ensuring an audit trail of communications and preventing fragmented exchanges and broken reply chains.
The e-adjudication portal represents a next-generation platform designed to digitally enable quasi-judicial proceedings, providing an alternate, transparent platform for all parties involved and facilitating direct interaction with external entities, allowing them to access and download Show Cause Notices, submit replies, and participate in proceedings through a dedicated online hearings module.
This digital shift aims to modernise traditional regulatory processes and enhance transparency across SEBI's quasi-judicial functions.
C-SAC, an AI-enabled platform, strengthens cybersecurity supervision of SEBI-regulated entities by analysing cyber audit reports, identifying compliance gaps, risk areas, and providing actionable insights.
The platform provides risk scores and comparative analysis of cyber audit reports of regulated entities, aiding in enhancing SEBI's risk-based supervision approach.
The system analyses reports submitted through SEBI's SI Portal and shares the analysis with entities upon submission of their compliance reports.
The three initiatives aim to streamline communication, digitally enable quasi-judicial proceedings, and enhance cybersecurity supervision of SEBI-regulated entities.
The platforms enhance efficiency, reduce manual effort, and support timely, data-driven supervisory decisions, reinforcing the regulator's commitment to leveraging technology for improved market oversight and investor protection.
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