Technology committee requirement for asset managers to review cyber resiliency and system audit frameworks strengthens operational oversight. Mutual funds, AMCs, trustees, registrars and industry bodies must constitute a Technology Committee of technology-proficient experts, including at least one independent external expert experienced in the Mutual Fund/BFSI sector, to review the cyber security and cyber resilience framework of Mutual Funds/AMCs and to examine system audit aspects of AMCs, in accordance with the referenced regulatory guidance, thereby strengthening technology governance and operational risk oversight.
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Provisions expressly mentioned in the judgment/order text.
Technology committee requirement for asset managers to review cyber resiliency and system audit frameworks strengthens operational oversight.
Mutual funds, AMCs, trustees, registrars and industry bodies must constitute a Technology Committee of technology-proficient experts, including at least one independent external expert experienced in the Mutual Fund/BFSI sector, to review the cyber security and cyber resilience framework of Mutual Funds/AMCs and to examine system audit aspects of AMCs, in accordance with the referenced regulatory guidance, thereby strengthening technology governance and operational risk oversight.
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