Managing Partner of Nadmitov, Ivanov & Partners Law Firm Alexander Nadmitov and lawyer Delgira Khodjaeva gave comments to Pravo.ru on the issues of building an effective compliance system in the company.
Alexander Nadmitov, Managing Partner at Nadmitov, Ivanov & Partners Law Firm, spoke about the possibility of using blockchain technology to automate compliance: “Its advantages are that the data entered into the block chain cannot be deleted from the moment it is entered. Therefore, they are used as a method of proving the compliance of processes with regulatory requirements. Also, regulators can access the organization's internal blockchain in real time to view information. "
Delgira Khodzhaeva, a lawyer at Nadmitov, Ivanov and Partners, analyzed various ways of organizing compliance in an organization and singled out the need to transfer confidential information and personal data to a third-party organization and the lack of control mechanisms over the ongoing compliance procedures among the disadvantages of the outsourcing compliance function. Delgira Khodjaeva also drew attention to the fact that it would be difficult to refer to such a system when interacting with government agencies.
More: https://pravo.ru/story/219025/