private - Blog - Global Risk Community2024-03-28T19:59:37Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/privateMGT-7: What is it and who are eligible for filling this formhttps://globalriskcommunity.com/profiles/blogs/mgt-7-what-is-it-and-who-are-eligible-for-filling-this-form2019-06-28T05:50:10.000Z2019-06-28T05:50:10.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><h2>Introduction to MGT 7</h2><p>MGT-7 is an automated form or e-form provided by the MCA (Ministry of Corporate Affairs) for companies to register their Annual Return.</p><p>Companies have to register their Annual Return in 60 days following the AGM (Annual General Meeting). Usually, this meeting is scheduled on September 30th following an appropriate Financial Year. So, excluding exceptions, MGT 7 is scheduled for 29th November all year. This e-form is managed by the ROC (Registrar of Companies) through automatic mode. On the basis of the account of accuracy provided by the company.</p><h2>Who are eligible for a form MGT 7?</h2><p>Every Company registered under the Companies Act, 2013 or Companies Act, 1956. They are expected to register their Financial Statements in e-Form MGT-7 in 30 days-60 days respectively from the end of its AGM. All companies registered in India, let it be<span><a href="https://www.legalraasta.com/public-limited-company-registration/"><strong> Public limited company registration</strong></a></span> or Private all must register their annual returns in e-form.</p><ul><li>LLP Registration</li><li>Private Limited Company</li><li>Partnership</li><li>Sole Proprietorship</li><li>Public Limited Company</li><li>One Person Company</li></ul><p>All of them are eligible if they are registered companies.</p><h2>What are the results of not filing the form MGT 7?</h2><p>For every day of neglecting for filing the Annual return e-form. A penalty is charged for the company of Rs. 100. This penalty was increased by the government in 2018. So it is a necessity for companies to assure up-to-date filing of this MCA annual return or income tax return before the due dates.</p><h2>What are the details need to be filed in Form MGT-7?</h2><p>In Form MGT-7, the company would have to submit the following details concerning the fiscal year for which the form is filed:</p><ul><li>Registered office</li><li>Principal business activities and particulars of its holding.</li><li>Subsidiary and associated companies.</li><li>The pattern of Shares, debentures and other securities and shareholding.</li><li>Indebtedness Details</li><li>Members and debenture-holders details on with changes therein considering the end of the past fiscal year.</li><li>The pattern of the shareholding in a company.</li><li>Topics describing to certification of agreements, declarations as directed.</li><li>Punishment or penalty forced on the directors or officers of the company.</li><li>Details of compounding of offenses and claims addressed on penalty or punishment.</li><li>Compensation of directors and essential managerial personnel.</li><li>Meetings of members of Board and its many committees with details of attendance.</li><li>Directors, Promoters, Key managerial personnel with the changes internally since the end of the past fiscal year.</li></ul><p>To make and file form MGT-7, several fiscal and operational details concerning the fiscal year would be needed. So, before making MGT-7 a copy of the audited financial statement of the company would be needed.</p><h2>What are the documents Recorded in MGT-7 Form?</h2><ul><li>List of shareholders and debenture holders is necessary for the circumstance of a company having share capital.</li><li>Permission letter for extension of AGM which is compulsory in case of AGM due date was stretched.</li><li>MGT-8 copy which is obligatory in state of a registered company or a company has a paid-up share capital.</li><li>Optional Attachments, if any</li></ul><h2>What are the steps for Form-MGT 7?</h2><ul><li><span>Step 1 – Download form MGT– 7 </span></li></ul><p>Go to given Link and download form from the official site of MCA.</p><ul><li><span>Step 2 – Fill the form mentioned in the website</span></li></ul><p>Begin with mentioning of CIN no. of the company. Then practice the pre-fill facility. After that, click on no. of business activity. It will demand to fill the turnover of the business/company. That column will be displayed.<br /> For filling additional details use the instruction kit. The documents required are mentioned above details which need to be filled are also as follows in the above paragraph.</p><ul><li><span>Step 3</span>– <span>Pre-scrutiny</span></li></ul><p>After this, complete details of the person who are engaging the form. Do note form used to get the form fulfilled completely. On no error message, put digital signature and no direction. All details are accurate, the resulting data will display on the screen.</p><ul><li><span>Step 4 – Upload the form following the process of making payment</span></li></ul><p>Make payment and fulfill the transaction. An SRN number will create which will display on another window. Keep the SRN number for future reference if any.</p><h2>The signing of MGT-7 form</h2><p>The MGT-7 e-form for Small Company and One Person Company need to be digitally signed with a Company Secretary(CS) in practice or class 2 Digital Signature.</p><h2><span>What is the due date of the registering the form?</span></h2><p>The Form MGT-7 is to be registered in 60 days from the date of the AGM (Annual General Meeting) of the company.</p><p>This article is framed by Shrishti Jain. A content writer at Legalraasta.</p><p>Legalraasta is one of the best portals in India. Offering numerous legal services at a valuable cost like<span><a href="https://www.legalraasta.com/private-limited-company-registration/"><strong> Company Registration</strong></a></span>, Digital signature, EPF registration and so on.</p></div>Private limited company -The next step to ownershiphttps://globalriskcommunity.com/profiles/blogs/private-limited-company-the-next-step-to-ownership2019-04-30T06:31:29.000Z2019-04-30T06:31:29.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><p><span>Establishing a private limited company with creative ideas is like giving wings to your own dreams. Especially when you are the owner of your own company. The most catchy part of starting the journey of owning a private company is a big risk. But a great profit is earned and one has to choose the finest entity for that. A company will be popular on the basis of catchy and engaging taglines. The private limited company does full justification to the taglines. The best examples are seen today.</span></p><ul><li><span>Reliance Industries Limited</span></li><li><span>TATA Steel Limited</span></li><li><span>Bajaj Auto Ltd</span></li><li><span>Bharti Tele-Ventures Limited</span></li></ul><p><span> Many more all these company are well-known and famed private limited companies in India. As the name specifies its meaning a "private" means personal "Limited" means restricted in size and "Company" a commercial business.</span></p><p><span>Pvt.Ltd is a short form used after the company's name. A private limited company is personally operated for small businesses with limited liabilities. The responsibility of Private Limited Company members is confined to the number of shares individually owned by them. The buying and selling the shares of the private limited company cannot be done publicly.</span></p><p><span>The people who are involved in private companies are Directors, shareholders, employees, and members. In the company at least 2 members are required and a maximum of 200 and there should be 2 directors. The Least paid-up capital required to establish a company is Rs. 1 Lakh.</span></p><p><strong>Why would anyone pick the private limited company?</strong></p><p><span>The answer to this question- the private limited company has a great team of employees. Who are talented to build a remarkable name for the company. The limited liability is big protection for the owners of the private company. In the case of profit and loss situations limited liability secure there ways. So, in private companies its a mandatory process to go for <strong><a href="https://www.legalraasta.com/llp-registration/">LLP Registration</a></strong>(Limited Liability Partnership) for securing the future of the company. If the company is facing any loss the company's assets are taken into the account their personal assets are safe.</span></p><p><span>The decision-making process in a private company is swift and quick. The time is utilized in strengthening the efficient and smooth working of the company. The pressure of stock and its market is eliminated part of this company. The shareholder's interference and expectation are according to the law of the company. They can focus on long-term earnings.</span></p><p><span>The private limited companies have the plus point that in-laws of the company.</span></p><p><strong>The situation that makes the private limited company advantageous.</strong></p><ul><li><span>The owner or any member dies</span></li><li><span>Bank corrupted</span></li><li><span>Leave the company or transfers his/her share to another member</span></li></ul><p><span>The company will remain for long-run and it will not dissolve in any situation. There is no option for shareholders to trade there shares with the public and let them subscribe to their shares. Even, shares cannot be traded on a public stock exchange as there are a limited amount of shareholders. It is obligatory that you should state Pvt. Ltd at the end of a company name.</span></p><p><span>The registration of a private company is way more easy and accessible.</span></p><p><strong><span> The steps of registration one need to follow up by establishing a private limited company.</span></strong></p><ul><li><span>Name approval by the ministry of the cooperating affair(MCA)</span></li><li><span>Digital sign</span></li><li><span>Submission of incorporation application with MCA </span></li><li><span>Ltd. incorporation certificate. </span></li></ul><p><strong><span>The mandatory documentation for the commencement of a private limited company. </span></strong></p><ul><li><span>A copy of Aadhaar Card or Voter ID</span></li><li><span>A copy of Electricity Bill</span></li><li><span>Passport and PAN card copy</span></li><li><span>NOC from the owner of the property</span></li><li><span>2 passport size photographs of the owner</span></li><li><span>Proof of address of the company and the bank statements. </span></li><li><span>All the documents need to be attested.</span></li></ul><p><span>A private limited company has all advantage and interest of partnership like compliance. Also, it has higher capital enrichment and intensified skills and techniques. Even it has much more to contribute merged with limited liability, higher resistance, and legitimate existence. Company ownership is separate and private. Hence, it does not require to face the Exchange Commission and strict Securities filing provisions of public companies.</span></p><p><span>This article is framed by Shrishti Jain the content writer in Legalraasta. It is India's top portal. The company render its finest and great service like company registration, loans, <strong><a href="https://www.legalraasta.com/private-limited-company-registration/">Private Limited Company Registration</a></strong>, etc</span></p><p><span> </span></p></div>Prerequisites to register a Private Limited Company in Indiahttps://globalriskcommunity.com/profiles/blogs/prerequisites-to-register-a-private-limited-company-in-india2019-02-22T07:42:40.000Z2019-02-22T07:42:40.000ZShrijay Shethhttps://globalriskcommunity.com/members/ShrijaySheth<div><p>Before starting a new business, you need to understand the basic requirements for the business structure. The structure technically decides many factors including the operations, controls and ownership rights. If after the structure assessment, you find the Private Company as aright entity for your business, it’s time to dig in deeper. Let’s find an answer to <em>what are the basic requirements for</em> <a href="https://www.legalwiz.in/private-limited-company-registration" target="_blank">Private Limited Company Registration in India</a><em>?</em></p><p> </p><p><strong>Decide objects and scope</strong></p><p>The first step is to consider the business activities and scale of business. Based on this factor, you can decide the business and financial needs. To mention the regulation, note that your business activity is not something prohibited or announced as illegal. Further, few activities are regulated by different regulatory like SEBI, RBI or IRDA. For example, if it is a financial institution, you need to obtain RBI approval. SEBI approval is required for activities related to the securities market like a stockbroker.</p><p> </p><p>Company’s business activities are termed as objects of the company by law. Such objects are identified in the MoA of the company. The object clause of MoA should refer to the main activities and other activities ancillary thereto. Unless you have registered the object with MCA through MoA, the company cannot indulge in such activities. Therefore, you should try to cover the most general clauses related to any activity to reduce the chances of alteration and incur a cost. However, multiple unrelated activities are not allowed under one roof.</p><p> </p><p>Your activity and scope will further decide other licencing requirements. For example, import-export business demands IEC registration, while many other activities meet mandatory registration requirements under GST.</p><p> </p><p><strong>Choose where you work</strong></p><p>After your business activity is decided, you need to find a business place. The business place must be provided for company registration. The promoters must provide the business address and related documents for the purpose of registration.</p><p> </p><p>Typically, it is used for the business communication by authorities including MCA or any third party. However, this becomes less significant in the era of digital communication, especially for small businesses as it incurs fixed and continuous expenses for the company.</p><p> </p><p>Here, I would like to address the most frequently asked questions: <a href="https://www.legalwiz.in/blog/can-i-use-my-residence-as-registered-office"><strong>Can I register a company at a residential address?</strong></a> This is most raised concern for the small-scale businesses or those who do not have a specific business place. You need to address the registered office requirement whether you own a business place or not. Therefore, you can register a Pvt Ltd company even at a residential place. However, you should also look for its pros and cons. Also, virtual office option is open for you.</p><p> </p><p>If you find that you do not want to use given address for long-term, need not to worry. You can change the address anytime.</p><p><strong> </strong></p><p><strong>Choose who you work with</strong></p><p>Business partners are essential to direct the business in the right and targeted direction. Here, in a company structure, you get to choose with whom you want to share your ownership or the work. In a company, the ownership and management is separate.</p><p> </p><p>You specifically need to address the business needs by placing the right person for the appropriate task. In most cases, the Private Company owners choose to become member and director at the same time. However, you can surely adopt the benefit of separation, whenever needed.</p><p> </p><p>Let’s talk about provisional requirements as well. To register a Private Limited Company in India, you need to fulfil the following requirements:</p><p>1. Minimum 2 shareholders</p><p>2. Minimum 2 members.</p><p>Many entrepreneurs find themselves alone to meet this requirement. In such a case, you can rely on a family member or a friend to fulfil the minimum criteria.</p><p> </p><p>It is not necessary that all shareholders be an individual. Even body corporate like company or LLP can become shareholder through its representative. On other hands, it is necessary that the company’s directors are individuals. Further, one of the directors must be an Indian resident.</p><p> </p><p><strong>Choose your company name</strong></p><p>The company name is how you are known in the market. It is necessary to choose the right name that depicts your goals and objects. Additionally, it should be easy to pronounce and remember for the purpose of advertising.</p><p> </p><p>You should not rely on adopting existing businesses’ name, because in the long-term that may harm your business as well. Especially in this competitive environment, the business needs to place itself distinct from others in existence.</p><p> </p><p>Note that your company name must end with “Private Limited” or “Pvt Ltd”. This provisional requirement meets the need to depict the nature of the business. Make sure to meet the other regulatory requirement in name reservation. Also, you must take views of professionals before finalising the name.</p><p> </p><p><strong>Decide initial capital inflow</strong></p><p>Last but not least – money. Money keeps the business going, but it’s the most essential factor to start one. When you are reaching the promotion stage after deciding all the above factors, you come to finalise the initial capital requirement for the company.</p><p> </p><p>While you are the best judge to decide your business requirements, let have a look on regulations you must be aware of. For company registration, you will come across many different terms representing the <a href="https://www.legalwiz.in/blog/capital-required-to-register-pvt-company">types of capital</a>. The main being- authorise capital and paid-up capital.</p><p> </p><p>Authorised capital is one that decides the company’s capacity to raise money. The primary requirement is to set the company’s authorised capital as Rs 1 Lakh. While deciding this amount, you need to consider that it is a deciding factor for the stamp duty payable to Government for registration.</p><p> </p><p>You are free to decide the paid-up capital. Note that to become a shareholder, one must subscribe at least 1 share. This is the capital actually to be deposited in the company’s bank account. Therefore, decide this amount being realistic and understanding the actual need of the company. Again, you can anytime raise additional fund for the company with the prescribed process.</p><p> </p><p><strong>Conclusion</strong></p><p>The process to register a Private Company is simplified with minimal requirements. But, your burden reduces when you find the right professional to your assistance. However, it is essential on your part to know these basic requirements and inform your needs to them. With <a href="https://www.legalwiz.in/" target="_blank">LegalWiz.in</a>, you find the business set-up hassle-free and at the affordable cost. With a 9.6/10 referral score, the team has served more than 4,000 businesses across the country. Get in touch with LW professionals at support@legalwiz.in to take your Company registration plan to the next stage.</p></div>How to Handle Boss Fights: Resolving Co-Founder Conflictshttps://globalriskcommunity.com/profiles/blogs/how-to-handle-boss-fights-resolving-co-founder-conflicts2018-11-06T08:05:52.000Z2018-11-06T08:05:52.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><p><span>Running a company together is in no way an easy task, Going through all the legal procedures like <a href="https://companyregistrationonline.in/private-limited-company-registration/">Company Registration</a> getting <a href="https://www.applyiec.in/">Import-Export License</a> and <a href="https://www.legalraasta.com/trademark-registration/">Trademark Filing</a> etc. along with managing logistics can be a very challenging task. In a way, you can say it is the marriage of the business world. So like a marriage, it is vital to keep both parties happy in order for the relationship or the business to prosper. However, no relationship whether it's a marriage or a business is free from hiccups, conflicts and tempers rising. Some say if managed efficiently, confrontations can bring path-breaking perspectives to both parties involved. So with that hope, let's look at how best to manage and efficiently handle confrontations and conflicts between co-founders of a company.</span></p><p><span>First and foremost, this piece is not the bible of conflict resolution because what may seem to resolve conflicts between two people could add fuel to the fire for other groups of people because different people have different reactions to these situations. It might be a step too far to say that startups may fail because of conflicts between Co-Founders. However, it could be one of the major contributing factors as if there is trouble at the apex, there is nothing preventing from the negative vibes spreading over to the rest of the company and causing it to rot. Well, that will happen only if the conflicts are not managed and resolved. Let's look at some tips and tricks on how to resolve the conflict between the top-dogs of a company.</span></p><p><span>Let's face it, the structure of the business whether you form <a href="https://www.legalraasta.com/private-limited-company-registration/">Pvt Limited Company</a> or you do an <a href="https://www.legalraasta.com/llp-registration/">LLP Formation</a>, it has very little impact on whether or not a conflict will arise. This is because no matter what the business structure of the operation, Co-Founders always have to work in close quarters to each other and it is pretty hard for two people working so close to never have any disagreements</span></p><p><span>First of all, we need to address the root causes of these conflicts. The conflicts could arise due to a variety of reasons ranging from divided opinion on big issues, personalities differences or even management styles. Conflicts can also turn into mountains from molehills from very petty issues like cleaning up the office space. Of course, communication saves relations is always true so it is always pivotal to have honest, free-flowing conversation. This will not only resolve an argument but it will amount to improving the company's bottom line, promote teamwork and increase efficiency.</span></p><h2><span>Resolving Conflicts Step by Step</span></h2><h3><span>Plan of Action</span></h3><p><span>Be prepared before-hand even before there is a chance of a conflict arising. In order to avoid any disputes, keep your roles, responsibilities, liability, profit distribution and most important of all conflict resolution strategies in writing. Many of these things are already laid down in the <a href="https://www.legalraasta.com/memorandum-of-association-moa/">Memorandum</a> when you <a href="https://www.legalraasta.com/private-limited-company-registration/">Register a Company</a>. However, in addition to the legal formalities, it can prove beneficial to form up a founder's agreement</span></p><p><span>The main questions this founder's agreement can address are how will you pursue conflict resolution? Is a third-party intervention necessary? How is the decision making process split-up between the owners? The basic responsibilities and major roles each co-founder will play in the company has to be made sure by this founders agreement.</span></p><p><span>Having a founders agreement in place will help you identify issues in the working style of the owners how they work together and how they counter each other. It will also help identify issues before they even crop up and you're at each other's throats figuratively speaking, could also be literal(let's hope not). assess how you will overcome disagreements before they even occur. It will go a long way to kill the fight before it even begins.</span></p><h3><span>Address the Conflicts Head on</span></h3><p><span>While letting issues slide by and ignoring the fights might work in the very short run span of things, ignoring even the pettiest of arguments could be a brewing volcano inside of a mountain ready to burst, erupt and burn everything in its path. So it is pivotal to address the conflicts co-founders face because they might re-occur or even escalate into something disrespectful and irreversible. The moment a conflict arises with your partner in the business, set aside a time to discuss the matter privately. Of course, fighting in front of your employees will only be harmful to your reputation as managers.</span></p><h3><span>Two-Way street</span></h3><p><span>Open up your mind and your ears and really try to understand the point of view of your fellow director in times of conflict and dire arguments take as much as you have to give and probably it will eventually clear up that both of you were coming from a place of concern for the business and were only trying to improve the business and its operations.</span></p><p><span>Let's just understand one thing in a fight, it might seem like one person or the other is winning and you might feel like it is crucial that you win. However, one thing is for certain that if the argument doesn't end and tip in the favor of one or the other co-founders, the real loser in this situation could be your business which you built with so much hard work and put your heart, soul, blood, sweat, and tears into while taking significant career risks. SO, don't be afraid to take one for the team every once in a while because as they say you win some, you lose some.</span></p><p><span>When you give as much as you take from these business relationships you stand a chance to come out even stronger as a couple of individuals as well as a combined business unit.</span></p><p><span> </span></p><h3><span>Solution</span></h3><p><span>Now onto the main part, the solution. Basically, any upheaval in the co-founder structure of the company always hits the stock and business of the company thus, it is in the best interests of the company to come to an amicable solution for the good of the company and not just to boost your personal ego. The goal of having a co-founder by your side is to face up to the challenges of the unforgiving market it's constants ups and downs and its constant battles and conflicts and not getting dragged into arguments within yourselves. The relationship of a business partner is as fragile and as important as many other relationships affecting your life and hence should be dealt with the utmost care and respect for the other person it is the only way the business will move forward as a reckoning force.</span></p></div>Restructuring Corporate Offenses: Government Appointed Panel Suggests in-house adjudication systemhttps://globalriskcommunity.com/profiles/blogs/restructuring-corporate-offenses-government-appointed-panel2018-09-21T05:50:55.000Z2018-09-21T05:50:55.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><h2><span>Special Courts and their Plight</span></h2><p>Special Courts are up to their necks deep in corporate fraud cases with serious offenses. In this mess of serious offenses, many routine procedural errors and lapses are piling onto the pending cases and cluttering the justice system for corporates. In a pursuit, to "de-clog" the system, a 10-man government-appointed committee chaired by Mr. Injeti Srinivas are looking to bring about radical changes by restructuring corporate offenses. This attempt also comes as part of larger efforts by the government to enhance the Ease of Doing Business and improving <a href="https://www.legalraasta.com/file-roc-compliance-for-private-limited-company/"><span>ROC compliances</span></a>. The Ministry of Corporate Affairs has also made brilliant strides to promote faster <a href="https://www.legalraasta.com/private-limited-company-registration/"><span>company registration</span></a> procedures with <a href="https://www.legalraasta.com/blog/one-day-company-incorporation/"><span>One-Day Company Incorporation with SPICe</span></a>.One outstanding and radical change the panel suggests is the appointment of an in-house adjudication system to facilitate freeing up the workload on the special courts.</p><h2>Restructuring Corporate Justice</h2><p>It is clear that the special courts need a helping hand of support if they are to deliver justice for wrongdoings by fraudulent individuals. A vast array of changes and re-structuring of the system might come as a sigh of huge relief to the Judicial system.</p><p>Let's break down the changes to system suggested by the committee.</p><p>Serious offenses categorized into six different classes are to remain under the rigors of the law. However, the panel recommends that procedural and technical lapses falling under two classes should be shifted under the jurisdiction of an in-house adjudication system. This move is directly aimed at reducing the number of prosecutions filed with the Special Courts.</p><p>A move to simplify the resolution of minor technical and procedural offenses has been settled pretty well by suggestions of the committee. Apart from this the committee also stresses that they wish to simplify compoundable offenses as well. Suggestions from the panel request for the following changes:</p><ul><li>16 out of 81 compoundable offenses to be recategorized</li><li>Shifting the jurisdiction of said 16 offenses from Special Courts to an in-house adjudication system</li><li>Compundable Offences Jurisdiction shifted from Special Courts to 'in-house E-adjudication framework wherein defaults would be subject to levy of penalty by the authorized adjudicating officer (Registrar of Companies)"</li><li>Remaining 65 offenses to stay under Jurisdiction of Special Courts to prevent potential misuse.</li><li>Status Quo for non-compoundable offenses which are in relation with serious violations</li><li>Instituting a transparent Online Platform for E-adjudication and E-publication of orders</li><li>The cross-cutting liability under section 447, which deals with corporate fraud would continue to apply wherever fraud is found.</li></ul><h2> Governance Simplification</h2><p>The government-appointed panel was set up in July of 2018 to review and possibly restructure the current framework for dealing with offenses under the Companies Act, 2013. Apart from restructuring offenses, a sincere attempt is being made for ease of doing business, simplifying compliances along with smoother governance process for corporations. </p><p>The committee has a radical and comprehensive array of changes in mind related to governance as well as disclosure of corporate affairs. Here we list down some of the changes suggested for easier governance of companies.</p><ol><li>De-registration of Companies on non-maintenance of Registered Office.</li><li>Disqualification of Directors continuing their directorship beyond permissible time period. A capping of director's remuneration can be done on a percentage of income earned basis</li><li>Enabling the Central Government with the power to approve the altering of a Companies Financial Year with the under section 2(41) of Companies Act, 2013</li><li>Giving Central government the power of approving the conversion of Public companies into Private companies under Section 14 of the Companies Act, 2013</li><li>In a pursuit to deal with the menace of Shell companies, The panel suggests reintroducing the declaration of Commencement of Business</li><li>A greater extent of disclosures with regards to public deposits.</li><li>Reducing Time Limits on filing documents for satisfaction, modifications, and creation of Charges. </li></ol><h2><span>Conclusion</span></h2><p>It is refreshing to see the government making conscious attempts to streamline the judicial processes for corporations. These suggested changes, if implemented correctly, can really help revolutionize corporate law in India. Whether or not these changes will be implemented correctly or will be implemented at all, remains an unsolved mystery like most radical changes government seems to suggest. A judicial system, corporations, and wrongly accused individuals all watch with a hopeful eye as these changes unfold.</p><p> </p><p>Author Info- This article is contributed by Hardik Vats who is a Content Writer at <a href="https://www.legalraasta.com/"><span>LegalRaasta</span></a>.</p><p> </p></div>Proposed Changes in GST Formhttps://globalriskcommunity.com/profiles/blogs/proposed-changes-in-gst-form-12018-09-17T08:40:13.000Z2018-09-17T08:40:13.000ZJatin Kapoorhttps://globalriskcommunity.com/members/JatinKapoor<div><p class="Textbody">August 7th Tuesday, the Lok Sabha passed 4 new bills in an attempt to GST procedures with a focus on empowering the MSME(Micro, Small and Medium Enterprises) sector. The government is also targeting to plug loopholes in existing laws and lightening<span> </span><a href="https://www.legalraasta.com/file-roc-compliance-for-private-limited-company/"><strong><em>ROC</em></strong><strong><em><span> </span></em></strong><strong><em>compliances</em></strong></a><span> </span>requirements described as ‘complex’ by many a business owners. The new return filing system is expected to be put in place by the revenue department by January 2019 and would actively replace the current GSTR-3B and GSTR-1 returns.</p><p class="Textbody">In addition to these, an attempt has been made for the empowerment of digital payments such as UPI with incentives via cashback offers. The Lok Sabha also facilitated changes in GST return filing forms and also helping in reducing the frequency of return filings for businesses. The bills passed by the Lok Sabha are</p><p class="Standard"></p><p class="Standard">• Central GST(Amendment) Bill, 2018</p><p class="Standard">• Integrated GST (Amendment) Bill, 2018</p><p class="Standard">• Union Territory GST (Amendment) Bill, 2018</p><p class="Standard">• GST (Compensation to States ) Amendment Bill, 2018</p><p class="Standard"></p><p class="Textbody">This article will focus on the proposed changes in the GST forms.</p><p class="Textbody">Filing returns and payment of taxes had become a little tedious and complex. Aimed at addressing this issue and to bring about simplicity, the government has decided to bring in Sahaj and Sugam the simplified GST forms to achieve ease of going about business.</p><p class="Textbody"></p><p class="Textbody">The finance Minister Piyush Goyal was quoted as being intent on empowering the MSME sector and said: “The proposed new return filing system envisages quarterly filing of return and tax payment for small taxpayers along with minimum paperwork". The government also aims at simplifying the procedures for<span> </span><a href="https://www.legalraasta.com/msme-registration/"><strong><em>MSME registration</em></strong></a><span> </span>by incorporation of the comprehensive SPICe forms.</p><p class="Textbody"></p><p class="Textbody">Along with these changes, the government has also modified the due date for final GST sales returns to 11th of the succeeding month. (applicable for companies with turnovers exceeding 1.5 Crore Rupees.) The single return process will continue to have dates of filling vary based on the turnover of the company.</p><p class="Textbody">The simplified<span> </span><a href="https://www.legalraasta.com/gst-return/"><strong><em>GST</em></strong><strong><em><span> </span></em></strong><strong><em>return</em></strong><strong><em><span> </span></em></strong><strong><em>filing</em></strong></a><strong><em><span> </span></em></strong>forms have prospects for:</p><p class="Textbody"></p><p class="Textbody">1. Reducing Confusion among Taxpayers</p><p class="Textbody">The government plans to introduce a modular approach in which the aim is to introduce many business types into a simple form. Various modules in one common return will facilitate the filing process for eg. One for traders and one for exporters. The one form approach will help taxpayers pick and choose their type of business module and go to a section which remains relevant to other traders. According to the finance minister “This kind of a modular approach will help significantly in improving the compliance process too”.</p><p class="Textbody"></p><p class="Textbody">2. Decreasing the number of returns from 36 to 12 a year.</p><p class="Textbody">Return filings frequency will drop and single return procedures will be introduced per monthly basis to help facilitate the compliance process.</p><p class="Textbody"></p><p class="Textbody">3.One-Monthly return</p><p class="Textbody">Barring a few exceptions like composition dealers, all taxpayers shall file one monthly return. Return filing dates would be stacked on the basis of the turnover of the designated individual to manage load on the IT system. The facility of filing quarterly returns can be availed by composition dealers and dealers having no transactions.</p><p class="Textbody"></p><p class="Textbody">4.Unidirectional Flow of Invoices</p><p class="Textbody">Invoices can be uploaded at any time of the month in a unidirectional manner by sellers. These invoices can serve as valid documents to avail input tax credit by the buyer and buyer also has the provision of being able to see uploaded invoices during the month continuously.</p><p class="Textbody"></p><p class="Textbody">5. Simple Return Design and Easy IT interface</p><p class="Textbody">Invoice-wise descriptions of outward supply made by B2B dealers have to be maintained and the system will be able to calculate the tax liability automatically. Taxpayers will also be facilitated with a user-friendly interface and offline tools to upload invoices. Input tax credit will be calculated by an automated process as well.</p><p class="Textbody"></p><p class="Textbody">6. No automatic reversal of credit</p><p class="Textbody">In the case of non-payment of tax by the seller, automatic reversal of input tax credit from buyer has been prohibited. Options have been put in place to make recovery of defaults in payment of tax by the retailer. In addition to this, however, special provisions have been made to address exceptional situations like the closure of Business, missing dealer or supplier lacking assets to return due payment.</p><p class="Textbody"></p><p class="Textbody">7. Process for recovery and reversal</p><p class="Textbody">Issuing of notice and order will be done in an online and automated process to reduce the human interface.</p><p class="Textbody"></p><p class="Textbody">8. Supplier Side Control</p><p class="Textbody">Sellers who have defaulted in payment of taxes above a certain threshold will be blocked from raising invoices to avoid misuse of input tax credit facility. Safeguards like these will be deployed for new dealers as well as addition, analytical tools would be employed to prevent loss of revenue.</p><p class="Textbody"></p><p class="Textbody">9.<span> </span><strong>Transition</strong></p><p class="Textbody">Transition to the new system will be achieved in three stages.</p><p class="Textbody">Stage 1: Filing of return GSTR 3 B and GSTR 1.</p><p class="Textbody">Stage 1 cannot exceed 6 months</p><p class="Textbody">Stage 2: Invoice wise data upload facility and claiming input tax credit on self-declaration basis</p><p class="Textbody">Stage 3: Deployment of the new forms and single return system</p><p class="Textbody"></p><p>Thus, the proposed changes in the GST forms come as a relief to the MSME sector traders in simplifying compliance requirements for filing tax returns.</p></div>SPROCKET NETWORK, LLC - Private Placement Memorandum - Accredited Investors Onlyhttps://globalriskcommunity.com/profiles/blogs/sprocket-network-llc-private-placement-memorandum-accredited2017-12-01T19:57:50.000Z2017-12-01T19:57:50.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p></p><p><a href="https://www.ReviewInvestment.com" target="_blank">REVIEW INVESTMENT</a></p><p></p><p><a href="{{#staticFileLink}}8028266476,original{{/staticFileLink}}"><img width="500" class="align-full" src="{{#staticFileLink}}8028266476,original{{/staticFileLink}}" alt="8028266476?profile=original" /></a></p><p></p><p></p></div>START-UP AND EARLY STAGE COMPANIES GET FUNDED BY COMMONWEALTH CAPITALhttps://globalriskcommunity.com/profiles/blogs/start-up-and-early-stage-companies-get-funded-by-commonwealth2015-09-30T23:30:00.000Z2015-09-30T23:30:00.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p><i>Commonwealth Capital is proud to announce a New Venture Capital Fund specifically designed for Start-Up and Early Stage Companies.</i></p><p>We have access to many sources of capital for varying stages of a company’s existence. More importantly, we are looking to invest in start-up and early stage companies through our inaugural venture-capital fund, Commonwealth Capital Income Fund I.</p><p>Unlike most venture-capital firms, we’ve taken the mystery out of the application and funding process. We’re upfront about what we want to invest in and why. Most entrepreneurs will be able to understand our venture-capital-fund model and appreciate the innovative way we reduce risk for our investors. Without this model, there’s simply no way to justify the inherent risk with investing in start-up or early stage companies. </p><p>In addition, we won’t leave you hanging on and frustrated with endless due diligence. Our philosophy is simple. If you can do what we request of you through our process outlined on our website, there’s a very high probability that we’ll invest in your company or find a broker dealer who will. </p><p>No matter what stage your company is in, if you’re in the market for $1,000,000 in short-term capital followed by an influx of a larger amount of temporary, preferred-equity capital, without diluting your ownership interests and voting control… We suggest you watch the multi-media video on our website, read our investment policy statement, and follow the directions to get started in the process. <a href="{{#staticFileLink}}8028235869,original{{/staticFileLink}}"><img width="679" class="align-full" src="{{#staticFileLink}}8028235869,original{{/staticFileLink}}" alt="8028235869?profile=original" /></a></p><p>APPLY HERE: <a href="http://commonwealthcapital.co/entrepreneurs-apply/">http://commonwealthcapital.co/entrepreneurs-apply/</a></p></div>Entrepreneurs do you know what deal structures work in today’s current investor climate and why?https://globalriskcommunity.com/profiles/blogs/entrepreneurs-do-you-know-what-deal-structures-work-in-today-s2015-05-16T21:00:00.000Z2015-05-16T21:00:00.000ZCharles David Dreherhttps://globalriskcommunity.com/members/CharlesDavidDreher<div><p>Although there’s an unlimited number of ways to structure a deal, or a securities offering, the use of hybrid securities, such as; convertible notes or preferred stock, enables the entrepreneur to attract investors due to the recent ability to advertise the securities offering and compete with financial institutions for investor capital. Investors in today’s market are seeking short-term investments with relative safety and high yield. If you provide this to the investor community, you will increase your probability of successfully raising all the capital you seek. The beauty of Financial Architect® is that the creation, valuation and pricing of hybrid securities is done quickly, easily and accurately with the use of CapPro™ included in each program.</p><p>Want to know more? Download your <i>complimentary copy</i> of the abridge edition of “The Secrets of Wall Street – Raising Capital for Start-Up and Early Stage Companies”</p><p></p><p><a href="https://commonwealthcapital.co/get-your-ebook/">https://commonwealthcapital.co/get-your-ebook/</a></p><p></p><p> </p><p><b> </b></p><p><b> </b><a href="{{#staticFileLink}}8028235055,original{{/staticFileLink}}"><img width="250" class="align-full" src="{{#staticFileLink}}8028235055,original{{/staticFileLink}}" alt="8028235055?profile=original" /></a></p></div>File an FBAR or Find Yourself Behind Barshttps://globalriskcommunity.com/profiles/blogs/file-an-fbar-or-find-yourself-behind-bars2014-04-28T12:00:48.000Z2014-04-28T12:00:48.000ZJames McCallumhttps://globalriskcommunity.com/members/JamesMcCallum<div><div class="separator" style="clear:both;text-align:center;"><a href="http://1.bp.blogspot.com/-NJs3WoO30VE/UzGXLstEUDI/AAAAAAAAEv0/kOWO1hx87hU/s1600/fbar+screen.png" style="clear:left;float:left;margin-bottom:1em;margin-right:1em;"><img border="0" src="http://1.bp.blogspot.com/-NJs3WoO30VE/UzGXLstEUDI/AAAAAAAAEv0/kOWO1hx87hU/s1600/fbar+screen.png" height="320" width="192" alt="fbar+screen.png" /></a></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;">A few years ago the IRS offered a tax amnesty program for US citizens who failed to declare assets held in foreign bank accounts. This came on the heels of a highly publicized legal action against UBS. The IRS forced the Swiss based bank to turn over the account information of US citizens. The IRS was clamping down on tax evaders, exploiting the protection of Switzerland's bank secrecy laws to hide income and assets. The IRS was looking to determine if FBARs had been filed by the banks American clients.</span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;">Individuals and corporations with assets greater then $10,000 held in foreign bank accounts must file a Foreign Bank Account Report (FBAR) with the IRS or face potential legal action.</span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;">UBS counted 52,000 US citizens as private banking clients. It would be safe to assume that most of those accounts had balances greater then the $10,000 declaration threshold. </span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div><div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;">Any US investor participating in a foreign based fund partnership or investment vehicle must also file an FBAR. High Net Worth (HNW) investors and their tax advisers should conduct due diligence on private bankers and asset managers to confirm that FBARs and appropriate declarations and forms have been filed by investment partnerships and their administrators. HNW tax advisers should contact the chief compliance officer at the fund to request an attestation letter stating that the fund is in full compliance with foreign bank reporting requirements.</span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;">Bernie Madoff and Sir Allen Stanford may look good in orange prison jumpsuits but that doesn't mean it will look good on you. Don't become a slave to fashion. Get compliant. Check with your tax adviser to make sure FBARs are filed.</span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;">Get compliant and file an FBAR with Sum2's AML SAR Filing BSA Reporting App. The app is used by financial institutions, compliance professionals and industry service providers to comply with Anti-Money Laundering (AML) best practice provisions and regulations. Protect your clients and your business from money laundering risk with this critical compliance application.</span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;">Since 2002, Sum2's AML compliance products have helped investment managers, broker dealers, MSB's, banks and credit unions comply with the AML provisions of The Patriot Act, BSA Reporting and OECD best practices. </span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;">Get AML aware. Download AML SAR Filing / BSA Reporting App on Google Play</span>.</div><div style="text-align:justify;"></div><div><div><table cellspacing="0" class="tr-caption-container" style="margin-left:auto;margin-right:auto;"><tbody><tr><td style="text-align:center;"><a href="https://play.google.com/store/apps/details?id=com.rtken23.Sum2LLC.pacosar" style="clear:left;margin-bottom:1em;margin-left:auto;margin-right:auto;"><img alt="https://play.google.com/store/apps/details?id=com.rtken23.Sum2LLC.pacosar" border="0" src="http://3.bp.blogspot.com/-oCAoKr1I4wc/UzGcNIWr9fI/AAAAAAAAEwE/Cuc3k10zEPU/s1600/aml+sar+app+cover+100.png" /></a></td></tr><tr><td class="tr-caption" style="text-align:center;"><a href="https://play.google.com/store/apps/details?id=com.rtken23.Sum2LLC.pacosar">Get AML Aware</a></td></tr></tbody></table><div><span style="font-family:Arial, Helvetica, sans-serif;text-align:justify;">Risk: AML, FBAR, legal, compliance, tax, reputation, criminal prosecution, IRS, OECD, Patriot Act, MSB, private banking, hedge funds, CPA, UBS, Credit Unions, SAR filing, BSA Reporting</span></div><div><br /><div style="text-align:justify;"><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div><span style="font-family:Arial, Helvetica, sans-serif;"><br /></span></div></div></div></div></div>SURVIVAL - FOR H&L BROKERS AND CARRIERS IN 2013 AND BEYOND!https://globalriskcommunity.com/profiles/blogs/survival-for-h-l-brokers-and-carriers-in-2013-and-beyond2012-10-30T02:31:20.000Z2012-10-30T02:31:20.000ZPhilip Eidehttps://globalriskcommunity.com/members/PhilipEide<div><p><b>The days of slowly and reluctantly accepting change are over for Brokers and Carriers in the Health, Life, and Voluntary Benefit Markets. Forces that are out of their control have taken over! </b></p><p>For decades the Health and Life (H&amp;L) Insurance Markets - Including the Insurance Carriers, Brokers/Agents, and Service Providers - have reluctantly accepted change on an Evolutionary Basis. While competition was stiff, most parties were enjoying a stable and profitable marketplace utilizing the same basic: Plans, Programs and Services; Product Designs; and Marketing Strategies. Their <i>Target Markets</i> - Employers, Employees, and Individuals - were relatively complacent and satisfied with the limited information they were provided through <i>Carrier's Media Promotions</i> and the <i>Brokers and Agents Knocking at their Doors.</i></p><p>Here is a sample of the Evolutionary changes that were reluctantly accepted by the Carriers and Brokers/Agents over the years:</p><ul><li><b>HMOs - </b>Originally focused on promoting early detection and wellness.</li><li><b>Cafeteria Plans</b> - Employers offering Employees workplace Benefit Choices.</li><li><b>Voluntary/Worksite Benefit Choices</b> - Providing Employees the freedom of "Choice" at the own Discretion and Cost on a Payroll Deducted Basis.</li><li><b>Section 125 of the IRSC</b> - Pre-Taxing Qualified Benefits making the Plans more affordable by reducing the bite of Income and Payroll Taxes.<i> </i></li><li><b>Reimbursement Accounts</b> - Medical, Dependent Care, and Transportation/Parking Plans that assist in reducing the cost of essential Plans, Products and Services for Employees. These are tax-advantaged plans.</li><li><b>Consumer Driven Heath Plans (CDHPs) </b>- Health Insurance Plans that Promote and Support Employees and Individuals in becoming better "Consumers" of Health Care.</li><li><b>HRAs and HSAs</b> - To Implement with the HDHPs providing a savings component to promote Consumerism.</li><li><b>HDHPs</b> - High Deductible Health Plans that support the HSAs and HRAs.</li><li><b>Gap Plans</b> - To assist in off-setting the Risk of High Deductible Health Plans.</li><li><b>Ancillary Benefits</b> - Non-Insurance Based Employee Benefits that provide additional Employee "Choices" and often Reduce the Costs of Goods and Services for the Employees. </li><li><b>Wellness Plans</b> - That benefit the Employers and Employees by improving Individual Health and in Reducing Health Care Costs.</li></ul><p>For a number of reasons the days of <i>Evolutionary Change</i> are giving way to <i>Revolutionary Upheaval</i>! These include:</p><div><p> <b>></b> <b>Skyrocketing Costs for Health Care</b>!</p></div><div><p> <b>></b> <b>Skyrocketing Increases in Health Insurance Plan Premiums</b> for Employers,</p><p> Employees, and Individuals! </p></div><div><p><b> ></b> <b>Disruptive Change </b>promoted by Entrepreneurs and a Competitive</p><p> Marketplace! </p></div><div><p> <b>></b> <b>The Internet and Search Engines </b>providing Employers, Employees,</p><p> and Individuals expanded access to Plans, Programs, and Services - as well as</p><p> their Providers - on a more competitive basis. </p></div><div><p> <b>></b> <b>Social/Business Media</b> <b>Driven by the Internet</b> is being utilized by Brokers and</p><p> Carriers to cost-effectively reach Employers, Employees, and Individuals with</p><p> information about and access to their Plans, Programs, and Services. </p></div><div><p> <b>></b> <b>Federal and State intervention with Reform</b> - including PPACA, MLRs, etc.</p></div><div><p> <b>></b> <b>Public Demand for Change!</b></p></div><div><p><b> </b>What are the <i><b>Revolutionary and Disruptive Changes</b> being faced by Brokers and Carriers</i>?</p></div><div><ol><li><b>Insurance and Benefits Industry Reform by Government</b> - Federal and State intervention in the Insurance and Benefits Industries! Whether Obamacare or Romneycare - as they are amended - regulations are inevitable and will be extremely Disruptive!</li><li><b>MLR (Medical Loss Ratios)</b> - in one form or another - will negatively impact on the compensation package for Brokers to hypothetically reduce the Premium Costs.</li><li><b>State and the Federal Exchanges</b> - will become the access point for millions of U.S. Citizens for accessing Health Insurance Coverage.</li><li><b>Health Care Coverage <i>Navigators</i></b> - Internet Portals, Individuals, and/or Organizations providing information about the Exchange based Plans - with some method of compensation (probably not commission based). Navigators will provide the guidance required by Individuals, Employers, and Employees to make their Health Plan Coverage decisions.</li><li><b>Insurance Carriers, Brokers, Large Employers, and Third Parties</b> <b>will develop Private Exchanges</b> including: Mandated Plans; Innovative Plan Designs; Self-Funded Plans; HDHPs; HRAs; HSAs; Gap Plans; Voluntary/Worksite Plans; Ancillary Plans; and more - all on a <b>Defined Contribution (DC) Platform</b>. </li><li><b>Technology Companies Providing Platforms for Private Exchanges and Defined Contribution Models</b> will become the hub for Carriers, Brokers, Employers and Employees for providing and accessing Plans, Programs, and Services. </li><li><b>Companies Providing Education, Communication, Enrollment, and Data Management Capacities</b> will integrate with the Technology Companies to better accommodate <b>Private Exchanges</b> and <b>Defined Contribution</b>. </li><li><b>Insurance Carriers will "Mass Customize" Plans and Programs</b> - that are in compliance with the Federal or State Mandated "<i>Base Plans</i>" that will provide additional coverage for those who desire and can afford a more robust Health Insurance Plan.</li><li><b>Voluntary Benefits and Ancillary Benefits</b> - will continue to dominate the Insurance Markets as all Benefits and Insurance Plans become Voluntary within Private Exchanges within a Defined Contribution Strategy.</li><li><b>Broker Commissions </b>- will continue to be reduced by Carriers for the Health Insurance Plans based on MLRs.</li><li><b>The Internet</b> - will become the Distribution Channel of Choice for Carriers attempting to replace Brokers as the direct contact with Clients and Potential Clients.</li><li><b>Social/Business Media</b> - will continue to grow in importance as the interface between Carriers and Brokers with potential Markets - Employers, Employees, and Individuals.</li><li><b>Brokers Compensation Models Will Change </b>- they will be forced into "<i><b>Fee Based</b></i>" Compensation replacing the traditional "<b>Commission Based</b>" Models. Employers, Employees, and Individuals who need assistance in making decisions about Insurance and Non-Insurance Based Plans, Programs, and Services will pay Fees to Brokers for their assistance. </li><li><b>Employer's Participation in offering Benefits</b> - will utilize Private Exchanges and Defined Contribution (DC) Strategies to continue to offer Employee Benefits and remain Competitive.</li><li><b>Brokers Will Leave or Change Their Industry Focus</b> - many experienced Health Insurance Brokers will not be willing to accept change or have the flexibility required to survive - they will retire or go out-of-business. </li><li><b>Consolidation of Mid-Sized and Larger Brokers</b> - as Brokers shift from Traditional Norms to delivering Benefit Packages based on Private Exchanges, Defined Contribution (DC), and a Fee Based Compensation Model, many Organizations will Partner, Acquire, or be Acquired to remain Competitive.</li><li><b>Consolidation of Insurance and Benefits Carriers </b>-<b> </b>as<b> </b>they seek to leverage their Assets, Merge Client Bases, Reduce Marketing and Advertising Costs, and Strengthen Balance Sheets they will Merge.</li><li><b>Employers, Employees, and Individuals will Gain Control </b>- they<b> </b>will<b> </b>be more demanding of Carriers and Brokers to provide Plans, Programs, and Services to meet their needs within a framework of Private Exchanges and Defined Contribution Strategies. </li><li><b>Government Entities at the Federal and State Levels</b> - will continue to increase their control of, and participation in, the Insurance and Benefits Industries.</li><li><b>A Single Payor System and Nationalize Healthcare</b> - will continue to be the ultimate goal of the Congress and Federal Agencies. </li></ol><div><p><b>As the above outlines, Brokers and Carriers no longer can keep their heads in the sand hoping that these <i>Revolutionary Pressures and Changes</i> will subside and go away - That their will be a return to the <i>Good Old Days</i>!</b> Surviving for Brokers and Carriers in 2013 and Beyond will be based on their willingness to abandon old Strategies and Models. It will be essential for them to Embrace Change. Brokers and Carriers must become creatively involved in building new Plans, Programs and Services - as well as Delivery systems to accommodate the above changes. <b>2013 Is Almost Here - Will You Be?</b></p></div></div><div><p><b>We invite you to Comment and add to the Discussion: Join our Linkedin Group, <a href="http://linkedin.com/groups?about=&gid=2762200">Insurance Forum</a>; Visit our Website - <a href="http://www.benefitplace.biz/">Benefitplace.biz</a> or Email - <a>max@benefitplace.biz</a>. </b></p></div></div>Extending IT Governance: From Private to Hybrid Clouds Through Consistency and Portabilityhttps://globalriskcommunity.com/profiles/blogs/itgovernance2011-08-02T08:26:11.000Z2011-08-02T08:26:11.000ZBoris Agranovichhttps://globalriskcommunity.com/members/BorisAgranovich<div>When people talk about security or risks in the cloud, they are usually talking about governance. But cloud governance extends beyond security and into legal and regulatory procedures, transparency, service levels, indemnification and other issues. Do you have an effective cloud governance plan? This whitepaper guides you through best practices for ensuring your applications and data can safely move between clouds – whether they are private, public or hybrid.<br /><a href="http://links.visibli.com/37a8e3becd332a23/?web=3519a2&dst=http%3A//bit.ly/ITCloudGovernance" target="_blank">http://bit.ly/ITCloudGovernance</a></div>