PwC India has partnered with Axar Digital Services Private Limited (Axar) to further automate the Securities and Exchange Board of India (SEBI) Prohibition of Insider Trading Regulations, 2015 (PIT Regulations) as part of its compliance monitoring and advisory services.
Through this partnership, Axar’s licensed tool services will be available to PwC India’s customers, while PwC will still provide implementation, project management, and ongoing review support services. With this dual strategy, businesses will be able to comply with SEBI PIT laws more effectively from an operational standpoint.
“At PwC, we support our clients in developing robust compliance framework programs and policies around Related Party Transactions, Insider Trading regulations, Board and Committee Governance, Board Trainings, etc.” said Ankur Jain, Partner & Leader – Contracts and Compliance, PwC India. We applaud the heightened awareness and implementation of PIT regulations, since equitable business practices of this kind are essential to luring in foreign capital, fostering confidence, and safeguarding individual investors. Our partnership with Axar will improve our ability to provide customer support and guarantee strict adherence to PIT regulations.
Clients of PwC India will now have access to a one-stop shop for all of their PIT Regulation compliance requirements. This entails routinely keeping an eye on tool submissions and reporting to make sure businesses get the continuous assistance they need to maintain compliance.
“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,” stated Lokesh Gulati, Partner, Contracts and Compliance at PwC India. To assist customers in India in enabling adherence to PIT requirements, we will collaborate to develop tech-enabled processes and solutions as well as market awareness.
Devdutta B (Sunil) Modak, Managing Director of Axar Digital Services Pvt Ltd, said, “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.”