As part of its services to provide compliance monitoring and advisory services, PwC India has entered into an alliance with Axar Digital Services Private Limited (Axar) to further drive automation in the space of Securities and Exchange Board of India (SEBI) Prohibition of Insider Trading Regulations, 2015 (PIT Regulations).
With this alliance, PwC India’s clients will get access to Axar’s licensed tool services while PwC will continue to provide implementation, project management and on-going review support services. This dual approach will help companies remain in compliance with the SEBI PIT regulations in a more operationally efficient way.
Ankur Jain, Partner & Leader – Contracts and Compliance, PwC India, said, “At PwC, we support our clients in developing robust compliance framework programmes and policies around Related Party Transactions, Insider Trading regulations, Board and Committee Governance, Board Trainings etc. We welcome the increased vigilance and enforcement of PIT norms as fair trade practices like this are imperative to attract global investments, and build trust and protect retail investors. Our alliance with Axar will help strengthen our client service delivery and ensure robust compliance to PIT norms.”
PwC India’s clients will now have access to a one-stop solution for all their compliance needs under the PIT Regulations. This includes regular monitoring of tool submissions and reporting, ensuring that companies have the ongoing support they need to stay compliant.
Lokesh Gulati, Partner – Contracts and Compliance at PwC India, said, “While we continue to be technology agnostic in PIT compliance space, we chose to partner with Axar leveraging their previous experience in providing a web based framework that ensures adherence to best compliance and trading practices. We will be jointly working on creating market awareness and building tech enabled practices and solutions to help clients in India to enable adherence to PIT norms.”
“The combination of Axar’s product InsiderLens and PwC’s expert services will surely provide outstanding support to our clients, in meeting SEBI’s mandatory PIT Compliance and related requirements, “said Devdutta B (Sunil) Modak, Managing Director, Axar Digital Services Pvt Ltd.
