PwC Collaborates With Axar To Offer Technology-Based Compliance Monitoring Services
PwC India has collaborated with Axar Digital Services Pvt. to drive automation in the space of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations as part of its compliance monitoring and advisory services.
PwC India's clients will get access to Axar's licenced tool services, while PwC will provide implementation, project management and ongoing review support services. This approach is aimed at helping companies remain in compliance with SEBI PIT regulations.
"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," Ankur Jain, partner at PwC India, said. "Our alliance with Axar will help strengthen our client service delivery and ensure robust compliance to PIT norms.
The automated solutions are expected to enable organisations to improve operational efficiency while also complying with legal requirements. Organisations will have access to a one-stop solution for their compliance needs, including monitoring of tool submissions and reporting, according to PwC India.
"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," Lokesh Gulati, partner at PwC India, said. "We will be jointly working on creating market awareness and building tech-enabled practices and solutions."
“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," Devdutta Modak, managing director of Axar, said.
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