National Institute of Securities Markets (NISM), the Federation of Indian Chambers of Commerce & Industry (FICCI) and TeamLease RegTech recently held a "Compliance and Governance Symposium." The event spanned six hours of intensive discussions centred around technology's evolving role in compliance and governance, particularly concerning SEBI (Securities and Exchange Board of India) regulations.
The symposium opened with remarks from Ms. Sanjit Kaur Batra, Group Vice President - Legal and Legal Head at Cummins India, who set the stage for a day of insightful deliberations. Mr. Sundararaman Ramamurthy, MD & CEO of BSE (Bombay Stock Exchange), delivered the keynote address, emphasising the dual nature of technological advancements in compliance processes. While they simplify compliance, they also necessitate heightened caution against cyber threats.
The first panel of the day was a gathering of regulatory heavyweights, each a beacon of knowledge and experience in their respective fields. This esteemed group included Ms. Richa Goel Agarwal, General Manager at SEBI; Mr. Avishkar Naik, Vice President at NSE (National Stock Exchange); Mr. Vishwas Nagle, Senior Vice President of IT at CDSL (Central Depository Services Limited); Mr. Vishal Gupta, Vice President of Technology at NSDL (National Securities Depository Limited); and Ms. Renu Bhandari, Vice President of Inspection at NSE. These leaders shared their insights into how regulatory bodies are harnessing technology to enhance efficiency and alleviate the compliance burden, offering a glimpse into current initiatives and future plans.
Transitioning to a corporate perspective, a second panel featured prominent figures from the business community, including Vinay M A, Company Secretary & Compliance Officer at Marico; Onkar, Head of Legal, Company Secretary & Compliance Officer at EPL Limited; and Rishi Agrawal, Co-founder & CEO at TeamLease Regtech. They explored the complex landscape of regulatory requirements and technology's pivotal role in ensuring compliance. Rishi Agrawal highlighted the transformative capabilities of RegTech, noting, "Regulatory technology is reshaping the compliance landscape, enabling organisations to reduce information asymmetry and enhance control."
The symposium also featured a practical demonstration by Sandeep Agrawal, Co-Founder & Director of TeamLease RegTech. In this insightful session, Sandeep showcased how RegTech platforms automate SEBI compliance, thereby increasing transparency and control over compliance functions. This hands-on approach provided the audience with a clear understanding of the practical applications of RegTech in their day-to-day operations.
The event concluded with a forward-looking address by Deepak Trivedi, Chief General Manager of SEBI and NISM. In his inspiring speech, he described how the regulator is adopting cutting-edge technology for thorough data analysis and real-time alert generation, a significant shift from traditional periodic sample-based data processing. "Data and technology are the backbone of the regulator in the new leadership for SEBI v.2," he affirmed, signalling a robust and promising future for regulatory frameworks powered by technology.
The symposium highlighted the current state of RegTech in enhancing governance and compliance and set a benchmark for future developments in the regulatory ecosystem, promising a more efficient and compliant future for all stakeholders involved.