ICAEW Regulation and Conduct’s Post

Recent legislation in Latin America is representing a significant change in the legal framework of these countries. Discover what you need to know to stay on top of the latest developments. Learn more: https://bit.ly/3JkA6my #whitepaper #compliance #regulations

Legal vs. Regulatory: Understanding the Difference ⛓️💥 The distinction between Legal and Regulatory aspects is crucial for understanding governance and compliance. Legal encompasses the fundamental laws governing behavior, including statutes, case law, and constitutional provisions, establishing rights, duties, and liabilities. For instance, the Indian Contract Act, 1872, stipulates specific legal criteria for contracts, such as lawful consideration. On the other hand, Regulatory pertains to rules and guidelines issued by regulatory bodies to enforce laws effectively. These frameworks ensure compliance, safety, and transparency in various sectors. For example, SEBI mandates disclosure standards for IPOs to safeguard investors' interests. The key disparity lies in Legal focusing on the law itself, while Regulatory ensures operationalization through specific rules. It's important to note that all regulatory requirements fall under Legal compliance, yet not all Legal requirements are Regulatory in nature. For practical illustration, consider a factory's obligations. It must adhere to environmental laws (Legal) and also meet emission standards mandated by the CPCB (Regulatory). This dual compliance demonstrates the intersection of Legal and Regulatory frameworks in real-world scenarios. Understanding this differentiation is essential for organizations to navigate compliance complexities effectively, enabling robust risk management practices.

Resulting from the Revisions to the IESBA Code that Require a Firm to Publicly Disclose When a Firm Has Applied the Independence Requirements for PIEs. These narrow scope amendments to two IAASB standards operationalize changes to the International Ethics Standards Board for Accountants’ (IESBA) International Code of Ethics for Professional Accountants (including International Independence Standards) related to listed and public interest entities. The changes to the IESBA Code require firms to publicly disclose when the independence requirements for PIEs have been applied in an audit of financial statements. The amendments to the ISAs provide a clear mechanism to action this new requirement. (Effective for audits of financial statements for periods beginning on or after December 15, 2024)

Dear Connections, Ashu Daga and I are thrilled to announce the publication of our latest blog: " Dissecting The Intricacies Of CCI’s Leniency Plus Regime" 📈📊on Student Chapter for Corporate Law and Practice. In this deep dive, We unravel the complexities of the Competition Commission of India’s enhanced approach to encouraging corporate compliance and whistleblowing. The Leniency Plus regime represents a significant shift in how anti-competitive practices are identified and addressed, promising to reshape the corporate governance landscape in India. We are eager to hear your thoughts and engage in discussions on how these changes will shape our industry. Let’s connect and converse in the comments below! ⬇️ #Compliance #RegulatoryChanges #CCI #CorporateGovernance #LeniencyPlusRegime #EthicsInBusiness Check it out here- https://lnkd.in/g-23VKUc

With the DMA now applicable, the gatekeepers have submitted the two types of reports required. The blog by Alba Ribera Martínez Ribera Martinez aims at providing a high-level reaction on these submissions and specifically on the mishaps, omissions and merits! Read the full article on the Kluwer Competition Law Blog. #competition #internationallaw #DMA #EC

Navigating the NCLT & NCLAT Landscape assisted by ICAI Corporate Laws and Corporate Governance GPT

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New regulatory trends are shaping the new year 📜 Keeping up with regulatory change is becoming more complex, with laws like the #EUAIAct or #DORA reshaping compliance strategies for organizations across industries.

The latest edition of the KPMG Regulatory Barometer has landed! The Barometer identifies the key pressure areas across the evolving UK and EU regulatory landscape for financial services and measures the impact of the change on firms. Report highlights include: 📈 Regulatory responses to economic uncertainty and emerging risks and opportunities 🖋️ EU:UK regulatory alignment and divergence 💡 Key considerations for firms Read the full report: https://lnkd.in/dE2N3Xnt    #FinancialRegulation #KPMGRegulatoryBarometer KPMG Law

With the 31st July deadline for Consumer Duty assessments now only months away, firms should be preparing for the eventuality that the regulator enquires about their preparedness for the review – including requesting sight of working papers, MI and other key documentation. So, how can you ensure you’re on the right track? TCC’s Regulatory Consultant and Consumer Duty expert, Juana Diaz, gives some expert advice in our insight: https://bit.ly/3vAQ1dz #consumerduty #assessment #compliance #regulatorychange #governance #evidencing #MI #financialservices #fairvalue #vulnerability