Compliance Management Support

Compliance Management and Support

In an era of increased accountability, stakeholders are taking a significantly keener interest in ensuring that the entities that they are associated with are compliant. Not just the senior leadership of various companies, even investors, independent directors and business partners now expect a unified and standardized compliance management strategy to help enforce consistent regulatory compliance and controls processes. Having partnered with some of India’s leading organizations over the past two years, Lexplosion is perfectly positioned to assist your company in its endeavor to achieve this through its a platform-driven legal governance, risk and compliance management system.

Lexplosion undertakes a phased approach to evaluate the compliance ecosystem of the companies and strengthen their monitoring of compliance status on an ongoing basis. The regulatory compliance management lifecycle comprises of the following set of activities –

  • Identification of all regulations that apply to each of these companies.
  • Creation of a comprehensive inventory by breaking down regulations into easy-to-use checklists.
  • Uploading the compliance inventory onto a digitized solution to provid ongoing triggers to the portfolio companies as well as management oversight to the fund.
  • Comprehensive or focused audit to assess the existing compliance gaps
  • Report out of audit findings with recommendations for corrective action
  • Legislative monitoring on an agreed frequency to track changes in compliance standards/codes.

Periodic Regulatory Updates

Lexplosion has a dedicated team of lawyers who track and monitor any regulatory updates for laws applicable to an organization basis its operations in India. The Updates team also tracks relevant judgments in various fora and courts of India. The relevant updates are reported in the form of a newsletter on a monthly basis.

 

Regulatory Compliance Assessment

Lexplosion offers comprehensive compliance assessment services to allow clients to have an overview of their compliance status. Lexplosion’s lawyers understands client’s business operations, finalize the applicable list of laws, review statistically significant compliance proofs and provide a report identifying gaps/ glaring misses in actual implementation of applicable compliances.

 

Creation of Compliance Checklists

Lexplosion’s lawyers undertake a regulatory landscaping exercise to understand client’s business and thereafter come up with the list of laws and ascertain the compliances that apply to the client. Lexplosion synthesizes the various provisions which lead to specific compliance activities for the client and lists them out in a mutually agreed compliance checklist template.

 

Project Management Support

Lexplosion provides a legal resource who is stationed either at the client site or operates out of Lexplosion office. This resource aids the client in managing compliances and ensuring the completeness and accuracy of the forms/ schedules in which the compliances are filed. The resource also acts as a conduit with the third-party compliance filing expert and ensures that the filing expert files the compliances with the Government Authorities on time.