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FAQs on Our Legal Regulatory Compliance Products

Here are some of the most frequently asked questions on InSiDDer — SDD (Structured Digital Database)

What is InSiDDer?

InSiDDer is a software solution designed to help organizations comply with SEBI (Prohibition of Insider Trading) Regulations, 2015 (‘PIT’):

  1. Specified under 3(5) & 3(6) by maintaining a comprehensive, tamper-proof Structured Digital Database (SDD), and
  2. By tracking the movement of insider data, as per regulation 9.

Non-compliance can lead to substantial penalties, damages to an organization’s reputation, and marked as SDD non-compliant (both the organization & it’s compliance officer) on the stock exchange website in which it is listed.

InSiDDer assists every organisation in recording & tracking unpublished price sensitive information through a comprehensive SDD, managing audit trails, and streamlining the record of unlimited Designated Persons & Insiders for seamless compliance.

InSiDDer aids the tracking and management of Unpublished Price Sensitive Information (UPSI), ensuring all data is securely recorded and accessible for audits, thereby mitigating legal penalties and reputational damage associated with non-compliance.

Benefits include an intuitive user interface, competitive pricing, adherence to SEBI requirements, and a dedicated customer support team backed by an experienced legal team, to ensure compliance best practices.

Customers who have installed SDD software have successfully passed inspections conducted by the authorities and have been marked as compliant. Our product & service ensures that your organization remains INSPECTION READY, EVERY DAY.

InSiDDer helps create a tamper-proof Structured Digital Database (SDD) containing the nature of unpublished price sensitive information (UPSI), the names of such persons who have shared the information, and the names of such persons with whom information is shared along with the Permanent Account Number or any other authorized identifier.

InSiDDer employs robust security measures including data encryption and two-factor authentication to adhere to strict access controls, ensuring that the SDD remains secure and tamper-proof. These features are in line with SEBI’s guidelines, providing organizations with confidence in their compliance efforts.

InSiDDer is installed and operated on the client’s own data servers. This approach allows organizations to have full control over their data, maintaining its confidentiality and integrity within their secured infrastructure. The client organization is responsible for implementing and managing the necessary security protocols to safeguard their data, supported by InSiDDer’s inherent security features.

Yes, InSiDDer is compatible with cloud-based storage solutions, offering flexible deployment options that meet SEBI’s stringent guidelines for data security, privacy and control. This flexibility allows organizations to leverage cloud efficiencies while maintaining regulatory compliance.

InSiDDer maintains a detailed audit trail for all activities related to UPSI within the SDD. This includes logging every access, entry, and modification with timestamps (and reasons for change), ensuring a transparent and chronological record that supports compliance verification and legal scrutiny.

InSiDDer advises timely and accurate documentation of every communication of UPSI, whether internal or external. Organizations should ensure that all types of events which constitute UPSI are recorded, such as financial statements, director appointment proposals, monthly GST & advance Tax preparations, etc. This practice ensures that the SDD serves as a comprehensive record for regulatory compliance.

Yes, InSiDDer is designed to enable users to update the SDD instantaneously, i.e., any additions, or modifications to data (DPs, Insiders, Projects, UPSIs, etc.) is immediately reflected in the SDD, parallelly triggering an automated emails where applicable. This capability ensures that the database always provides an accurate and current view of insider information.

No. As per SEBI regulations, a UPSI once recorded cannot be modified or deleted. The same is stringently followed in the InSiDDer software and recorded UPSIs cannot be modified in any manner.

InSiDDer offers flexible solutions tailored to the needs of all organization sizes, including startups. While SEBI’s exemptions for smaller entities are considered, InSiDDer ensures that even companies with fewer resources can achieve full compliance efficiently.

InSiDDer simplifies compliance enforcement and audit processes by providing easy access to a well-organized, searchable SDD with comprehensive audit trails. This functionality enables organizations to quickly respond to SEBI inquiries and demonstrate compliance, streamlining the audit process.

PIT compliance refers to adherence to the Prohibition of Insider Trading regulations set by SEBI. It is crucial for companies to ensure fair trading practices and maintain the integrity of the securities market by preventing insider trading and unauthorized use of Unpublished Price Sensitive Information (UPSI).

InSiDDer streamlines the process of communicating Trading Window Closures by enabling companies to send out intimations to all Designated Persons (DPs) and Insiders quickly and efficiently. This ensures that all relevant individuals are aware of trading restrictions during sensitive periods.

Yes, InSiDDer has a feature that allows companies to monitor the trades performed by employees and Designated Persons. Companies can upload weekly BenPos data to the system, which helps in overseeing and ensuring that trades are compliant with SEBI regulations.

The pre-clearance process involves obtaining approval before DPs and employees engage in any trade. InSiDDer automates this process by allowing employees to submit pre-clearance requests with all required details for the scrutiny of the compliance officer. It also enables them to submit necessary disclosures post-trading as per the approvals granted.

InSiDDer provides an online platform for DPs and other insiders to easily submit details of their trades in the company’s securities. By using the online Form-C and Form-D submissions, InSiDDer makes the process seamless and ensures that the company has an accurate and timely record of all trades, which is essential for maintaining compliance with SEBI’s PIT regulations.

InSiDDer offers several advantages for maintaining PIT compliance, including time-saving automated processes, a centralized platform for monitoring and reporting trades, ease of communication regarding trading windows, and ensuring timely submissions of required forms. By digitizing and simplifying these aspects of compliance, InSiDDer helps companies adhere to SEBI’s stringent regulations more effectively.

As per Regulation 3(5) of SEBI Prohibition of Insider Trading Regulations, 2015:

It is mandatory for Listed Companies, Intermediaries, and Fiduciaries to maintain an SDD. The InSiDDer software makes it easier for organizations to comply with their mandatory SDD regulatory requirements with its quick-to-update, easy-to-use, and readily accessible tool, ensuring that the SDD is inspection-ready, every day.

Yes, companies under CIRP must maintain an SDD in accordance with SEBI regulations. This requirement is reinforced by the IBBI circular dated January 03, 2018, which mandates that Resolution Professionals ensure adherence to all applicable laws. InSiDDer software facilitates this by providing a platform that helps maintain a tamper-proof SDD, ensuring that even companies in CIRP remain compliant with regulations concerning the handling of UPSI.

The obligation to maintain an SDD extends to all intermediaries and fiduciaries who manage UPSI for a listed company, regardless of their own listing status. Listed intermediaries, in particular, must comply with insider trading regulations pertaining to their own securities as well as those of their clients. InSiDDer by Legality Simplified simplifies adherence to these requirements by enabling comprehensive SDD management, covering both the intermediary’s and their clients’ securities.

Currently, the submission of an SDD compliance certificate is a responsibility borne by listed entities. In the future, significant intermediaries such as merchant bankers may also be required to submit this certification as regulations evolve. The compliance certificate can be provided by:

  1. the Compliance Officer, who benefits from direct involvement and knowledge of internal operations, or
  2. a Practicing Company Secretary, who offers the advantage of an independent verification process.


InSiDDer supports these processes by ensuring the structural integrity of the SDD and the comprehensive documentation of UPSI, which forms the basis of the compliance certification.

Yes, every individual company within a group is required to maintain its own SDD since each company is a separate legal entity with distinct compliance obligations related to UPSI. InSiDDer streamlines the creation and maintenance of independent SDDs for each entity within a group, ensuring that UPSI is appropriately documented and managed in a legally compliant manner for each company.

Here are some of the most frequently asked questions on GOAL — Legal Compliance Management Software

What is GOAL by Legality Simplified?

GOAL (Govern Online to Achieve Legal Compliance) by Legality Simplified is a comprehensive legal compliance management software designed to streamline and simplify the compliance process for organizations. It assists companies in staying ahead of regulatory changes and ensures that compliance efforts are efficient, accurate, and up-to-date.

Any organization that faces challenges with manual data compilation, navigating ever-changing legal landscapes, and ensuring detailed compliance with legal standards can benefit from using GOAL. It’s especially useful for compliance officers, legal teams, and corporate leaders seeking to optimize compliance workflows.

GOAL transforms compliance management by converting challenges into opportunities for seamless, streamlined processes. It offers an intuitive interface, smart process optimization, and a comprehensive suite of features designed to proactively identify and address compliance issues efficiently without compromising quality.

GOAL offers a robust platform equipped with features for automating compliance tasks, tracking regulatory changes, ensuring timely reporting, and enhancing team collaboration. Its proactive compliance issue identification and an intuitive interface facilitate a holistic approach to managing legal and regulatory standards.

Yes, GOAL is highly customizable and can be tailored to meet the specific compliance and regulatory requirements of any organization. From integrating the software into existing operations to providing ongoing support and training, GOAL is designed to adapt to your unique compliance challenges.

GOAL offers a cost-effective solution by optimizing compliance workflows, reducing the need for extensive manual labour, and minimizing the risk of non-compliance penalties. Its efficiency and comprehensive support ensure that organizations can maintain high standards of compliance without significant additional costs.

GOAL ensures compliance through continuous monitoring of regulatory changes, automated compliance tasks, and an easy-to-use dashboard that provides real-time insights into an organization’s compliance status. This proactive approach helps organizations stay ahead of legal requirements and maintain compliance.

GOAL provides extensive support and training services to ensure successful implementation and usage. This includes personalized onboarding, regular updates on new features and regulatory changes, and access to a dedicated team of compliance experts ready to assist with any questions or challenges.

Organizations interested in implementing GOAL can start by contacting the Legality Simplified team for a consultation. The team will assess your specific compliance needs, provide a demo of GOAL’s capabilities, and guide you through the process of integration and customization.

Relying on Excel sheets for compliance tracking presents several challenges that can lead to inefficiencies and risks in the compliance process:

Fragmented Documentation: Typically, a checklist of compliance activities is maintained by compliance owners within Excel sheets, while relevant attachments are stored in separate folders. This fragmentation makes it difficult to have a cohesive view of compliance documentation and evidence.

Outdated Information: With the primary focus on operations, not all compliance-related data is consistently updated in the Excel trackers. This leads to outdated and incomplete records that do not accurately reflect the organization’s compliance status.

Lack of Consolidated Evidence: Evidence of compliance, such as documents and records that demonstrate adherence to regulatory requirements, are not always obtained and stored in a centralized location. This makes it challenging to retrieve and present evidence during audits or reviews.

Gaps in Compliance Tracking: The combination of outdated information, fragmented documentation, and the absence of consolidated evidence results in gaps in compliance tracking. These gaps can lead to missed deadlines, non-compliance issues, and increased risk for the organization.

While Excel is a versatile tool for many business processes, it has significant limitations when used for compliance tracking. These challenges include:

Lack of Expertise: Often, the necessary knowledge on applicable compliances isn’t readily available within organizations. This gap can lead to oversight and non-compliance, as Excel does not provide guidance or updates on legal standards.

Inconsistency and Version Control Issues: Determining the final version of compliance evidence can be challenging. Excel files are easily duplicated and edited, leading to multiple versions and confusion over which document is accurate and up-to-date.

Absence of Alerts: Excel lacks built-in alert systems for tracking due dates or compliance milestones. Users must manually check the compliance list regularly, which is inefficient and increases the risk of missing critical deadlines.

Updates on Legal Changes: Compliance trackers in Excel often fail to be updated with the latest amendments in law. This results in compliance activities that are outdated and not in line with current legal requirements.

Data Collation Challenges: Each time an Excel sheet is reconciled, issues with correlating data can arise. This makes it difficult to get a comprehensive view of compliance status across different areas of the organization.

Lack of Standardized Reporting (MIS): Excel does not provide standard management information system (MIS) reports for compliance activities. Custom reports must be generated each time, which is time-consuming and often lacks consistency across reporting periods.

GOAL offers an extensive array of tools tailored to streamline every facet of compliance:

Licenses: The License management tool monitors the validity and renewal timelines of licenses and approvals, ensuring no lapses in legal permissions.

Returns: The Returns filling tool keeps track of filing deadlines to maintain legal compliance with statutory return requirements.

Notices: The Notices handling tool provides a unified system for managing notices, monitoring due dates, assessing potential liabilities, and implementing measures to avoid future issues.

Task Manager: The Tasks Manager tool ensures that all compliance-related subtasks are tracked, assigned, and completed effectively.

Litigation: The Litigation Oversight tool keeps a detailed record of all litigation matters, including case details, response deadlines, involved parties, and associated liabilities.

Other Compliances: The Event-Based Compliance tool identifies and tracks statutory requirements triggered by specific events, encompassing obligations beyond licenses and returns.

Internal Compliances: The Internal Policy Compliance tool allows organizations to integrate their internal policies and monitor adherence within set timeframes.

Registrations: The Registration Repository tool creates a centralized database for all organizational registrations and verifications, streamlining document management.

Each tool within GOAL is designed to ensure that an organization remains fully compliant with all legal and regulatory obligations, from the broad spectrum of statutory mandates to internal governance policies.

GOAL allows organizations to add compliance verifiers within the software. These verifiers audit compliance directly in the tool, assessing the alignment of evidence with claimed compliance and providing feedback on any discrepancies found. If compliance is rejected, they can communicate specific areas of concern directly through GOAL, ensuring a clear and efficient verification process.

The process within GOAL involves four key steps:

Adding Verifiers: Assign compliance verifiers to review submissions.

Audit on the Tool: Verifiers examine compliance claims and approve or reject them based on the evidence provided.

Communicating Feedback: If compliance is rejected, detailed feedback is automatically sent to the responsible compliance team members.

Re-evaluation and Approval: The compliance team addresses feedback and resubmits the documentation for a subsequent round of verification.

Yes, GOAL provides a comprehensive feedback mechanism where verifiers can leave detailed remarks regarding each compliance item. This feedback is communicated automatically to the compliance team for necessary actions.

GOAL computes a compliance score for each compliance item, which takes into account the severity of non-compliance and its impact. If a branch experiences a non-compliance incident, it will affect the branch’s compliance score based on the sensitivity of the issue. The overall organization’s compliance score is an aggregate of all scores, including those from branches.

Yes, a non-compliance incident at the branch level will affect the organization’s overall compliance score. The impact will be proportional to the severity and sensitivity level of the non-compliance, reflecting accurately in the organization’s risk profile within the legal and regulatory framework.

GOAL is equipped with the functionality to offer location-wise compliance scores, enabling organizations to assess compliance at individual branch levels. It also categorizes compliance items by severity, allowing for a nuanced understanding of compliance and risk across the organization.

Here are some of the most frequently asked questions on Evaluate – Board Evaluation Software

What is Evaluate?

Evaluate is a board evaluation software designed by Legality Simplified to simplify the governance process and ensure legal compliance. It is crafted to enhance the efficiency and effectiveness of board evaluations through automation and digital tools.

Evaluate transforms board evaluations by automating feedback collection, facilitating virtual board meetings, and streamlining the entire evaluation process. This technology-driven approach helps boards operate with greater transparency, accuracy, and efficiency, particularly in the context of evolving evaluation criteria and governance practices in India.

Evaluate is ideal for Indian companies looking to improve their board governance practices. It is particularly beneficial for board members, corporate secretaries, and governance professionals who are responsible for organizing and conducting board evaluations.

Evaluate offers a range of features designed to support every aspect of the board evaluation process. These include tools for automating data collection, analysing feedback, managing documentation, and supporting virtual interactions among board members.

In the landscape of modern corporate governance, which increasingly emphasizes sustainable practices and stringent compliance, Evaluate provides a robust solution that empowers boards to lead with confidence and clarity. It addresses challenges such as the need for continuous improvement in board functions and the integration of technology into governance practices.

Yes, Evaluate is customizable to meet the specific needs of different organizations. It can be tailored to align with the unique governance structures and evaluation criteria of each board, ensuring that the software adds value in the most effective way possible.

Evaluate stands out due to its comprehensive approach to board evaluation, combining ease of use with powerful functionality. It offers a seamless digital transformation of traditional board processes, backed by the expertise of Legality Simplified in legal compliance and governance solutions.

Evaluate contributes to sustainable governance by providing tools that support transparent, accountable, and efficient board evaluations. These practices are crucial for building trust among stakeholders and ensuring long-term organizational success.

Indian organizations often face several challenges during board evaluations:

Family Influence on Objectivity: Many companies struggle with maintaining impartiality in evaluations due to significant family influence.

Regulatory Compliance vs. Genuine Assessment: Organizations find it difficult to move beyond mere regulatory compliance to achieve a genuine assessment of board performance.

Action-Oriented Evaluations: Board evaluations sometimes become a checkbox exercise rather than being used to drive meaningful change.

Holistic Evaluation Process: The evaluation process might not cover all necessary areas, leading to incomplete assessments.

Evaluate software introduces an automated and structured approach to board evaluations, which reduces the risk of subjectivity and bias. By providing a platform for anonymous feedback and data-driven insights, Evaluate helps ensure that evaluations are based on performance rather than personal influence.

Yes, Evaluate goes beyond ticking regulatory checkboxes. It’s designed to facilitate a deeper analysis of board effectiveness, member contributions, and governance practices. This helps organizations focus on true performance assessment rather than simply meeting regulatory requirements.

Evaluate software shifts the focus from checkbox compliance to actionable insights. It allows boards to set specific goals and track improvements over time, ensuring that evaluations lead to concrete actions and enhanced board performance.

Absolutely. Evaluate provides a comprehensive evaluation framework that covers all necessary aspects of board performance. Its holistic approach ensures that no critical areas are overlooked, enabling a complete and accurate assessment of the board’s effectiveness.

Evaluate streamlines the board evaluation process by digitizing questionnaires and eliminating time-consuming tasks such as scheduling, printing, and collecting responses. This online platform allows for efficient creation and circulation of materials, which can significantly reduce the time spent on logistical aspects of board evaluations.

Evaluate enables directors to provide feedback conveniently, and administrators can instantly tally results, which can be accessed on any device, anywhere. This real-time feedback system ensures prompt insights into board performance, allowing for immediate action and continuous improvement.

With Evaluate, directors receive timely reminders and notifications for follow-ups and deadlines, ensuring that evaluations stay on track. This feature minimizes the chances of missed evaluations and helps maintain a consistent review cycle.

Yes, Evaluate comes equipped with data visualization capabilities that transform complex analysis into easy-to-understand charts and graphs. These visual aids simplify the interpretation of evaluation results for administrators, making it easier to present findings and drive decision-making.

Evaluate prioritizes confidentiality by allowing for anonymous feedback. This anonymity encourages candid insights from board members, which are vital for the authentic development of the board and governance practices.

By digitizing the evaluation process, Evaluate reduces the need for physical materials, making it an eco-friendly option. It also cuts down on administrative costs associated with traditional board evaluations. The cost savings can be redirected to strategic initiatives, aiding in the organization’s growth.

Here are some of the most frequently asked questions on LegalityAlerts — Legal Regulatory News Alerts

What is LegalityAlerts?

LegalityAlerts is a premium email subscription service offering the latest legal regulatory compliance updates directly to the email inbox, reducing manual research efforts.

By providing timely updates from over 500 websites, LegalityAlerts eliminates the need for manual research, saving businesses significant time and resources.

Subscribers receive:

  1. Comprehensive updates from 22 states, 17 sectors, and 31 departments.
  2. Summarized key points and English translations of regional notifications.
  3. Reduced time spent on regulatory research.

LegalityAlerts offers flexible subscription plans designed to provide crucial regulatory updates without straining the budget. Each plan is structured to deliver the same comprehensive coverage and timely insights, with the cost-effectiveness increasing significantly on longer duration plans. 

  • 1 Month: ₹799/month, ideal for a short-term trial.
  • 3 Months: ₹2,099/quarter, suitable for navigating seasonal regulations.
  • 1 Year: ₹4,999/year, offering the best value and uninterrupted updates.

The Yearly Plan provides maximum savings, continuous updates, and helps in predictable budgeting and financial planning.

Alerts are sent as soon as new regulatory updates are available, typically on a daily basis.

Yes, you can cancel your subscription at any time. Alerts will be sent until the period that you have already subscribed to. Once the subscription period ends, you will not be charged for the next recurring cycle.

Alerts are delivered directly to your registered email address, ensuring prompt receipt of updates.

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