Technology Committee for Mutual Funds / Asset Management Companies (AMCs)
Summary
The circular advises Asset Management Companies to constitute a Technology Committee comprising technology experts. This committee must include at least one independent external expert with adequate experience in the Mutual Fund or BFSI sector. The committee is mandated to review cyber security frameworks and system audit aspects as specified in referenced SEBI circulars.
Text
AMCs are advised to constitute a Technology Committee comprising experts proficient in technology. Such committee shall have atleast one independent external expert with adequate experience in the area of technology in Mutual Fund industry / BFSI.
The aforementioned committee shall, inter alia, review the cyber security and cyber resilience framework for Mutual Funds / AMCs in terms of Para 7 of Annexure-1 of SEBI circular SEBI/HO/IMD/DF2/CIR/P/2019/12 dated January 10, 2019 and review the system audit related aspects of AMCs in terms of Para 4 of SEBI Circular SEBI/HO/IMD/DF2/CIR/P/2019/57 dated April 11, 2019 on system audit framework for Mutual Funds / AMCs.
Source: SecMarx — Technology Committee for Mutual Funds / Asset Management Companies (AMCs). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.