Overview
- SEBI launched a root‑cause analysis into the October 28 MCX disruption, with an initial report due within 24–48 hours before actions under its standard operating procedure.
- A consultation circular has been issued on the incident, with the regulator reviewing inputs through formal processes to prevent repeat failures.
- The outage delayed market opening by more than four hours, forced operations to the disaster recovery site, and hit trading in gold, silver, crude oil and base metals.
- Chairman Tuhin Kanta Pandey criticized repeated breakdowns, citing a prior July episode, and highlighted cyber, third‑party vendor and algorithmic trading risks requiring stronger oversight.
- SEBI is preparing a sweeping update to the 1992 Stock Broker Regulations to tighten compliance, data protection, risk identification and grievance redressal, with Pandey saying he hopes to implement the revisions by December subject to board approval.