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SEBI chief unveils FICCI drive to strengthen compliance

‘Every firm is accountable to all its stakeholders, whether customers, suppliers, or the law. Therefore, at the core, regulatory stability is crucial’

September 15, 2022 10:30 pm | Updated 10:30 pm IST - Mumbai

We believe that businesses are free to do what it does, but 100% transparency in what is happening is crucial,”  says Madhabi Puri Buch.

We believe that businesses are free to do what it does, but 100% transparency in what is happening is crucial,” says Madhabi Puri Buch. | Photo Credit: Gayathri G 9430@Chennai

SEBI Chairperson Madhabi Puri Buch has unveiled Federation of Indian Chambers of Commerce & Industry’s (FICCI) initiative to strengthen compliance with a tech-based solution supported by TeamLease Regtech, a regulatory technology (Regtech) solutions company.

As a part of the initiative, FICCI has facilitated the development of a regtech platform with Teamlease Regtech to enable digitisation of compliance for its members.

“Essentially, we believe that SEBI exists to support the capital formation of the economy. Herein, trust is the very foundation on which the entire structure of capital formation is built. In this context, transparency is an important tool," said Ms Buch.

"We believe that businesses are free to do what it does, but 100% transparency in what is happening is crucial," she added.

“Every firm is accountable to all its stakeholders, whether customers, suppliers, or the law. Therefore, at the core, regulatory stability is crucial,” she further said.

"Today, markets are evolving rapidly, and the business landscape is changing drastically, so our earnest request is for businesses to be at pace with us," she emphasised.

The initiative is a technology solution by that is built to transform compliance across organisations.

It allows tracking of over 2,000 SEBI compliances and auto-generation of select SEBI disclosures.

Additionally, the platform has other features like end-to-end board meeting management, compliance document management, and the generation of compliance calendars,

Rishi Agarwal, Co-Founder, and CEO of TeamLease Regtech, said, "This milestone event aims to reimagine employer compliance for 21st-century India. It sets the right tone toward paperless, presence-less, and cashless compliance in India."

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