Mumbai: BSE, Asia’s first Stock Exchange and now world’s fastest exchange with the speed of 6 microseconds is pleased to announce its strategic tie up with Legasis Services to inculcate the compliance and governance culture in Indian corporates. This strategic partnership, includes implementing joint compliance programmes, corporate governance initiatives, compliance analytics, compliance benchmarking, among other related initiatives, with relevant stakeholders.
BSE has been a trend setter in providing efficient and transparent market platform across multi assets with focus on compliance, innovation, integrity and best industry practices.
Legasis Services is the pioneer and market leader in compliance management solutions for the last 10 years in India. Legasis Services has implemented its compliance management solutions for more than 615 clients having in excess of 30,000 users and with a presence in 46 countries across the globe.
Speaking on this occasion, Shri Ashishkumar Chauhan, MD & CEO, BSE said “The future global trends in the listed and unlisted space is about compliance. Companies are looking in to ways and means to become more and more compliant in the different jurisdictions and different functional areas. The need for comprehensive and all encompassing compliance framework has been felt acutely. Help by way of real time updation of ever changing compliance needs in unrelated areas is a must in the modern world. We are happy that Legasis has prepared a comprehensive database for compliance which they continue to update across many jurisdictions and functions on daily basis”.
Shri Suhas Tuljapurkar, Founder and Director of Legasis Services, mentioned that “Legasis Services, as a market leader in compliance and governance solutions looks forward to working with BSE on the compliance and governance initiatives and in spreading the spirit of a Compliance Culture across all organizations”.
A Compliance culture needs absolute commitment from the senior management and the Board of Directors on one hand, and, a micro level bottom up push towards compliance awareness, training, orientation and continuous improvement, on the other. Concepts such as Compliance Mission, Compliance by Choice and a common sense approach towards compliances helps to construct a regime of preventive compliance mechanisms rather than cure mechanisms.
Governance and compliance in companies is becoming increasingly significant and critical due to various market dynamics and due to technological advancements. Regulators and lawmakers have been enacting a growing number of local and global regulations to which organisations need to comply. The absence of requisite systems for administering governance and compliances could have very serious, and sometimes devastating consequences. Against an increased level of regulatory scrutiny and ethical expectations, and given the financial and reputational damage, compliance has moved up to the Corporate Boardroom agenda.
More and more companies are seeing increased value for investing in strong and effective compliance programmes.