KP Corporate Solutions Ltd. headquartered in Pune, Maharashtra has a track record of more than six decades in the field of regulations, compliance, finance, accounting and corporate laws. Having a deep knowledge and expertise in the capital governance domain and dynamic business requirements, the company has assisted organizations to devise essential solutions that comply with complex regulatory requirements. Harshu Ghate, Managing Director is here to walk us through the services and solutions offered by KP Corporate Solutions in the capital market domain.
In conversation with Harshu Ghate, Managing Director, KP Corporate Solutions Ltd.
There is a growing pressure on financial institutions to continually tighten their processes and controls to comply with Insider trading regulations. As a capital market domain player, how has KP Corporate Solutions grown and adapted to the changes?
Building on our domain expertise as auditors and corporate law professionals, we have identified compliance as our focused area of operation. We believe that higher compliance can be achieved through automated systems and platforms. Our solutions such as My ESOPs, which is a fully integrated platform to manage and administer ESOP plans of companies, and eCons Direct, a platform that enables companies to consolidate their
financial statements across currencies and GAAPs, are positioned to help companies comply with the relevant regulations. We have observed that some of the older regulations especially in corporate governance have been brought to the forefront. Prevention of Insider Trading is one such regulation. Considering that most of the senior management and board members are also Insiders, any non-compliance at that level can be quite damaging to the corporate image and credentials of the professional. In that sense, corporate boards are quite sensitive to ensure compliance.
Vigilanté is a web-based platform designed to cover the entire obligations of the compliance officer that includes recent amendments and notifications
To ensure that compliance regulations are well managed and used to drive business goals, more organizations are turning to data-driven compliance. How does your web-based software Vigilanté help organizations to manage, track, and follow up all compliances?
Vigilanté is a web-based platform designed to cover the entire obligations of the compliance officer that includes recent amendments and notifications. For every listed company, Vigilanté enables the compliance officer to track Insider Trading in the company securities. It enables designated employees, their relatives and financial dependants to declare their holdings, seek pre-clearance for trades, and report trade details. The platform goes beyond employee disclosures and compares them with the information from the share registrars and designated brokers. It reports discrepancies to the compliance officer and tracks Contra trades as well as
alerts employees from trading in the blackout period. The platform generates reports need to be submitted to the SEBI on a daily basis. For companies in the financial sector, especially banks, NBFCs, capital market intermediaries, and fund managers, the SEBI regulates the trades in grey list securities. Vigilanté platform enables tracking such trades as well.
Kindly throw some light into the engagement models of Vigilanté platform.
Vigilanté helps companies meet the requirements of the Insider Trading. While our preferred engagement is through a cloud model, for companies which need to host the data within their network, we also provide the platform on an on-premise model. We believe that higher compliance can be achieved through creating better awareness and educating the Insiders through online tutorials and tests.
Years of delivering transformation would have admitted a number of triumphant success stories. Please quote 1 or more implementation story that has or have left a mark in the company’s success.
Several customers have given us feedbacks after implementing Vigilanté. It has been utilized to streamline the entire process significantly, apart from ensuring prompt SEBI reporting. One of our clients, who got listed recently, saw tremendous value in terms of creating more awareness amongst the senior employees who were not exposed to regulations with respect to their capital market transactions. One of our banking customers showcased the implementation of Vigilanté as a proactive and progressive step for the regulators to demonstrate their initiative to implement global best practices.
What further innovation do you plan to include in your capital market offerings?
We intend to make the platform more comprehensive to encompass regulations in other countries and take this solution global.