SECURITY AUDIT OF NSE SERVERS
Hackers breach BSNL again, second time in six months
This is the second time in six month where BSNL has suffered a data breach. Athenian Tech chief executive Kanishk Gaur told ET, the breach involved more than 278 GB of data from the state-owned telecom operation, including server snapshots, which can be misused for SIM cloning and potentially more severe criminal activities like extortion.
RBI's special audit over, IIFL Finance appoints team to implement corrective actions
IIFL Finance, under scrutiny by the RBI for irregularities in its gold loan portfolio, has taken corrective actions to address concerns. RBI directed the company to halt new gold loans due to supervisory concerns and deviations in gold assessment. The company raised capital through rights issues and NCDs to mitigate risks and reported a net profit in Q4.
Big 4's dominance: Local companies call for level playing field
Indian auditing firms are pushing for fair competition with multinational counterparts, expressing concerns over the Big Four's increasing dominance and alleged manipulation of regulatory loopholes. The Institute of Chartered Accountants of India (ICAI) recently investigated affiliates of EY, Deloitte, PwC, and KPMG, where the firms were able to obtain court stays against disciplinary actions by the ICAI disciplinary committee after years of scrutiny, according to local rivals.
NSE to assess Linde India’s related-party transactions
NSE has to share the valuation report with Sebi and the company. Within two weeks of receiving the valuation report, Linde should place it before the audit committee and board of directors, the regulator said in an interim order.
Big six corner most of auditing business in Nifty-500 universe
According to the report, of all the companies with equity shares listed on the NSE main board, the Big 6 Indian audit firms secured 637 assignments out of 1,961. This accounted for approximately 32.48% of the total, up slightly from 32.14% the previous fiscal year. Auditor details were missing for 47 organisations. A key standout has been the strong performance of Grant Thornton and MSKA affiliates who have established themselves as strong alternatives to the Big Four firms in audit business.
If you encounter a technical glitch on your stock broking platform, here’s what you should do
A staggering 42 lakh new accounts were opened in December alone—50% higher than the previous month—taking the total number of demat accounts to 13.93 crore. The trading volume on stock exchanges has increased over tenfold since 2019-20. However, brokers are finding it tough to handle this frenetic activity. In recent months, users of several broking platforms have been crying foul after facing recurring outages and disruption in services.
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SC directs ex-NSE MD to pay Rs 12.5 lakh in penalty
Challenging the sectoral tribunal's December 14 order that confirmed the penalty of ₹25 lakh on her, Ramakrishna argued that the imposition of penalty and vicarious liability on her on account of a 'moral responsibility' for the acts and omissions of NSE was wholly unsustainable and ultra vires the Sebi and other laws.
Chitra Ramakrishna vs Sebi: SC asks NSE's ex-MD to pay Rs 25 lakh penalty
The Supreme Court on Monday asked Chitra Ramkrishna, the former managing director and chief executive officer of the National Stock Exchange of India, to deposit half of the Rs 25 lakh penalty amount that was confirmed by the Securities Appellate Tribunal in the dark fibre and leased line connectivity case.
NSE Co-location scam: SC seeks response from NSE, former MDs
The case relates to co-location scam, wherein some brokers had gained unfair advantage by securing fast access to NSE’s systems, data and trading facilities at the cost of the broader market.
E-commerce hacking: What safeguards should companies & users take
"A recent hack involved a criminal defrauding a website for Rs 4.16 crore by hacking into a company called Reward360 and creating fake bank vouchers. This raises concerns about the cyber security measures of e-commerce websites. Companies should regularly conduct Vulnerability Assessment and Penetration Testing (VAPT) on their websites and perform security background checks on developers. Users should be cautious of suspicious offers or reward points, and look for websites that are PCI DSS certified."
Indian Bank partners with IBM to deploy compute infrastructure
IBM has partnered with the Indian Bank to deploy new front-end banking applications and provide safe compute infrastructure. The public sector bank aims to consolidate its Front Branch Servers and run CBS workloads on IBM Power servers, reducing costs and improving resource utilization.
SAT quashes Sebi penalty on NSE, ex-CEOs in co-location case
In 2019, Sebi's whole-time member in his order alleged that National Stock Exchange failed to ensure trading in a transparent, fair and open manner, among other things, and asked the exchange to disgorge ₹625 crore.
Sebi sends notice to NSE on alleged misuse of trading software
The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to the National Stock Exchange (NSE) regarding allegations that certain high-frequency traders manipulated its software to execute many orders undetected and displace other users from the system. The TAP software scandal was detected in 2013, but the authority caught up to it during an investigation into the co-location scam by income tax authorities four years later, leading to SEBI's recent intervention.
Mid-career cybersecurity roles and market opportunities
Mid-career roles in cybersecurity are emerging in sales, consulting, pre-sales, and cybersecurity operations, with senior analysts, threat-hunting resources, and end-product support specialists all in demand. Alongside cybersecurity firms and specialist practice areas in law firms, product management, marketing, and architecture roles are appearing in the cybersecurity market, aided by India's focus on meeting global cybersecurity standards to enhance data protection practices.
Sebi bans Karvy Stock Broking, promoter from securities market for 7 years; fines Rs 21 crore
While Parthasarathy has been restrained from holding the post of director, or any key managerial position in any listed public company and associating with any registered intermediary for 10 years, the same for KSBL's then directors -- Bhagwan Das Narang, Jyothi Prasad -- is two years.
Use stock exchange data for trading and not gaming: NSE to trading members
“It has come to the notice of the exchange that some market participants are using the Exchange data for gaming and virtual trading purposes which goes against the principles of fair and transparent trading,” NSE said.
Rs 414 cr paid to 34,497 Karvy clients from NSE's investor protection fund
The minister said capital markets regulator Sebi, along with exchanges, conducts regular inspection of brokers based on certain criteria and takes action as per its regulations and bye-laws of the exchanges.
NCERT starts DIKSHA security audit after data breach reports
Diksha is a national platform for school education developed by Bengaluru-based EkStep Foundation. It is an initiative of the NCERT under the aegis of the Ministry of Education. As per its website, Diksha has almost 167 million enrolments.
Sebi's Rs 625 crore disgorgement order against NSE set aside
Sebi had passed the disgorgement order in the co-location case after complaints surfaced that a broker used NSE staffers to gain unfavourable server access and benefit monetarily. To be sure, the tribunal has directed NSE to deposit ₹100 crore to the investor protection and education fund created by Sebi.
India securities tribunal gives relief to NSE in colocation case
The Securities Appellate Tribunal (SAT) ordered the country's largest exchange to pay a penalty of 1 billion rupees ($12.3 million) for the lapses in its systems, the lawyer representing NSE said in Mumbai.
NSE tracks insider trading rules compliance
"NSE has sought a confirmation of compliance from companies-probably to ensure whether companies have been maintaining information in a duly compliant manner. The current move seems to be in line with Sebi's objective of curbing insider trading and to review the compliance status of databases maintained by listed entities," said Moin Ladha, partner at the law firm Khaitan & Co.
NSE snoopgate: ED arrest former Mumbai police commissioner Sanjay Pandey
ED’s case is based on the predicate case registered by the Central Bureau of Investigation ( CBI) which has booked Pandey, iSsc Services, a firm linked to his family members and former NSE chiefs, Chitra Ramkrishna and Ravi Narain.
NSE illegal phone tapping: Delhi court sends former NSE chief Chitra Ramakrishnan to four-day custodial interrogation
Earlier today, the Enforcement Directorate (ED) had registered a fresh money laundering case in the said matter against former NSE chiefs Chitra Ramkrishna and Ravi Narain.
NSE illegal phone tapping: ED registers fresh money laundering case against former NSE chiefs
ED’s ECIR is based on CBI’s FIR in the matter. Along with Ramkrishna and Narain, Central Bureau of Investigation (CBI) is also probing iSec Services and former Mumbai police commissioner Sanjay Pandey who allegedly floated the firm in the said matter.
NSE co-location scam: Lens on role of brokerages
Investigations into the affairs of OPG Securities, one of the accused brokerages, and the subsequent arrest of its managing director Sanjay Gupta have revealed instances of mirror contracts and the use of hawala networks to circumvent local laws and allow brokers take positions in foreign exchanges, the people claimed.
OPG Securities MD Sanjay Gupta arrested in NSE co-location case
According to sources, the CBI has managed to unearth a cartel that allegedly 'helped Gupta in approaching Sebi officials' while the capital markets regulator was conducting its probe into the NSE algorithm scam between 2015 and 2018.
CBI raids brokers, traders in NSE case
After the arrest of NSE former managing director and chief executive Chitra Ramakrishna and former COO and advisor to MD Anand Subramanian, the agency has directed its attention to the brokers and traders allegedly involved in the case, said people aware of the matter.
NSE seeks to settle 2021 glitch case
NSE has filed a consent application with the Securities and Exchange Board of India (Sebi) to resolve the issue, they said. The incident on February 24 stopped trading in equities as well as derivatives. NSE's subsidiary - NSE Clearing Ltd (NCL) - has also filed a similar consent application with Sebi, the people said.
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