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MetricStream Rolls Out SEBI Clause 49 Compliance Solution
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The company extends its offering to add to its already comprehensive solution for SOX compliance.
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Tuesday, December 18, 2007:
MetricStream has introduced its extended offering to support compliance with the Clause 49 requirement laid down by the Securities and Exchange Board of India (SEBI). The Clause 49 solution is built on MetricStream's Enterprise Compliance Platform, a robust infrastructure for Web-based applications that drive enterprise process management for governance, risk, compliance and quality. It also leverages best practices and domain knowledge from ComplianceOnline.com, MetricStream's training and content portal dedicated to regulatory information and issues.
SEBI’s objective of adding Clause 49 in the Listing Agreement between a company and the stock exchange it is listed on is to effectuate good corporate governance practices in Indian companies.
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The Clause aims to protect the interests of the investors through improved quality and quantity of disclosures.
"By implementing compliance programmes for Clause 49, Indian companies are demonstrating their sincerity in following good governance and business ethics and this will surely raise their ability to compete in the global market," said Ghanshyam Dass, managing director, NASDAQ Stock Market, APAC.
NASDAQ and MetricStream have partnered to offer MetricStream compliance products and solutions to NASDAQ-listed companies globally. This enables them to better manage their governance, risk and compliance processes and potentially reduce their overall costs related to compliance efforts.
According to Shankar Bhaskaran, head, MetricStream, Asia Pacific, “By enabling our customers to adopt a single platform for managing the multiple GRC initiatives, we significantly improve the effectiveness of their compliance programmes while lowering the associated costs.”
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