India's securities regulator is advancing its approach to artificial intelligence as it looks to tighten oversight and modernize market supervision. The plan includes adopting a global supervisory toolkit and examining whether a locally governed AI model could be created for the country's securities market.
Highlights
- SEBI is adopting the International Organization of Securities Commissions' supervisory toolkit to enhance AI governance and risk management in the Indian securities market.
- Chairman Tuhin Kanta Pandey said SEBI is considering developing a domestic, market-specific AI model as digital public infrastructure, emphasizing the need for reliable data and oversight.
- SEBI is reviewing and may revise foreign investor compliance requirements, planning a consultation paper to align more closely with global standards and attract international capital.
AI governance plan for market supervision
As reported by Reuters, the Securities and Exchange Board of India is implementing the International Organization of Securities Commissions' supervisory toolkit to strengthen risk management and build a more agile governance framework for the use of AI, Chairman Tuhin Kanta Pandey says at a summit in Mumbai.Pandey says SEBI is also exploring a securities market-specific AI model that could be built and governed domestically as a form of digital public infrastructure. He says AI-enabled tools could improve services, risk assessment and supervision, but adds that their use requires reliable data, effective oversight of models and clear accountability for decisions.
Foreign investor rules under review
Pandey also says SEBI is reviewing compliance requirements for foreign investors and will issue a consultation paper seeking views on aligning them with global standards.He says India has streamlined market access, eased digital onboarding and simplified procedures for overseas investors, but some domestic compliance requirements remain more onerous than those in other major jurisdictions. India will need both domestic and foreign capital to support its growth ambitions, he says, adding that international participation can widen the pool of capital and bring expertise.
In our earlier coverage of the Bank of England’s push for “bare metal” recovery planning, we outlined how regulators are urging banks to prepare for more severe technology failures as AI increases the scale and complexity of cyber threats. The article highlighted efforts to ensure critical services can be restored independently of compromised primary systems, reinforcing the broader focus on operational resilience and oversight as AI adoption accelerates.
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