Outsourcing restrictions for depositories require a Board approved policy, non outsourcing of core functions, and stringent risk controls. Depositories must adopt a Board approved outsourcing policy consistent with SEBI principles, refrain from outsourcing specified core activities and core IT infrastructure to the extent possible, perform due diligence when engaging third parties, permit downstream subcontracting only with prior depository consent and contractual safeguards, undertake risk impact analysis with mitigation (including backup/restoration), implement monitoring and automation for real time oversight, and make the outsourcing policy the basis for system audits while amending bylaws and publicly disseminating the provisions.
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Outsourcing restrictions for depositories require a Board approved policy, non outsourcing of core functions, and stringent risk controls.
Depositories must adopt a Board approved outsourcing policy consistent with SEBI principles, refrain from outsourcing specified core activities and core IT infrastructure to the extent possible, perform due diligence when engaging third parties, permit downstream subcontracting only with prior depository consent and contractual safeguards, undertake risk impact analysis with mitigation (including backup/restoration), implement monitoring and automation for real time oversight, and make the outsourcing policy the basis for system audits while amending bylaws and publicly disseminating the provisions.
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