Media Release
BSE Ltd and Legasis Services Pvt. Ltd. enter into a strategic engagement for jointly promoting Compliance, Ethics and Governance for companies and other relevant stakeholders
Mumbai: Dated 27th June 2017: 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.
About BSE
BSE Ltd (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), a subsidiary of BSE, is one of the two Depositories in India.
About Legasis Services
Legasis Services is a pioneer and a market leader in compliance management solutions in India for the last ten years. Legasis Services was started by Shri Suhas Tuljapurkar, who was earlier an in- house counsel in several corporates like Enron, Dabhol Power, Essar group, Hindustan Lever just to name a few.
Suhas is a Certified Independent Director, an Accredited Expert Mediator-Conciliator, the Managing Partner at Legasis Partners, the Founder Director at Legasis Services, a Non-Designated Partner at LegaCS Corporate Services LLP and a Member of the Advisory Committee at the Centre of Excellence for Governance, Ethics and Transparency-United Nations GCNI (Indian Chapter of Global Compact Network India)
Suhas has pioneered several IT enabled legal and compliance solutions which have received numerous accolades from several onshore and offshore clients. Some of the major IT enabled legal and compliance management solutions and services are:
• Legatrix: A Web based online statutory and regulatory compliance solution with IT workflows and regulatory updates.
• Roznama: A Web based litigation management solution, which helps legal teams for managing, tracking, strategizing, and controlling litigations across locations, with a repository of all litigation documents.
• Carrar: A Web based solution catering to the end to end life cycle of contracts and serving as a centralized repository of contracts, drafts and documents.
• Intellectual property services related to patents, copyrights, trademarks, designs and other IP services.
• StarBoards: An Online Board evaluation system, which helps in the strategic evaluation of Boards of Directors on multiple parameters.
• Governance and Ethics practice: This covers Governance advisory, Board advisory and sensitization, Counter fraud, Anti-Bribery, Anti-Corruption, Dawn raids, Risk analysis, Audits and Training services.
• Legal and Corporate secretarial support to entities.
Media Contact-BSE Media contact–Legasis Services
Yatin Padia Sameer Sankhe
022 2272 8516 022-33544000/4001
Yatin.padia@bseindia.com Sameer.s@legasis.in