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Securities and Exchange Board of India (SEBI) Chairman, Tuhin Kanta Pandey, stated on Monday that SEBI will soon issue an advisory outlining how market players should remain alert to vulnerabilities and play a proactive role in mitigation.
He also advised market participants to utilise available tools to proactively identify vulnerabilities and combat cyber threats. Speaking to the media on the sidelines of the IMC Capital Market Conference 2026 regarding "Mythos", likely referring to a specific cybersecurity threat or software vulnerability, Pandey said, "We have engaged with all stakeholders on this, and shortly we are going to issue an advisory in terms of how they should be alert to the vulnerabilities that may exist and play a proactive role. As you know, Mythos is only available to a very few entities, it's not widely available, but nevertheless, it presents grave risks." He added, "It's important for market players to use whatever tools they have to proactively find vulnerabilities themselves and patch them." The SEBI Chairman also addressed concerns regarding the domestic private credit sector. When asked about the steps SEBI is taking, Pandey noted, "Regarding private credit, we have already established guardrails. We do not allow retail exposure to Alternative Investment Funds (AIFs) because we have a minimum commitment requirement. Secondly, even for accredited investors, there must be a minimum threshold. We do not allow general retail participation in AIFs precisely because of their illiquid nature. Whenever there is a liquidity crisis, this could lead to significant problems." The Chairman shared details regarding the launch of CKYC 2.0, expected by the end of July this year. The initiative aims to create a "One KYC" (Know Your Customer) system across all financial institutions. He clarified that two versions would be launched. "According to the information I have, CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) is looking into this. The C-KYC technology portal they are preparing will likely be substantially completed by July." When asked if SEBI would re-engage with other regulators regarding guardrails, considering that the IRDAI (Insurance Regulatory and Development Authority of India) and the RBI (Reserve Bank of India) are currently not in favor of banks and insurance companies participating in commodity derivatives, he replied: "We engaged with them, and they had their rationale that, at this moment, they don't feel it is the right time or the right thing... because insurance is a long-term commitment." (ANI)
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