TMF GROUP GLOBAL INDEPENDENT ADMINISTRATORS

IN GOOD SHAPE
Computershare Governance Services and TMF Group combine to provide a new solution for international entity compliance TORONTO, June 24, 2009: Companies across the globe are failing to maintain the required legislative and regulatory reporting requirements for their subsidiaries, according to TMF Group, (TMF) the world’s leading independent provider of accounting and corporate secretarial services and Computershare Governance Services (CGS), the leading subsidiary governance software supplier. Mark Selinger, Managing Director of CGS suggests that, “The consequences for noncompliance are severe in many countries. Companies risk penalties ranging from fines, dissolution of local entities and even prison sentences for local directors by not being aware of the regional requirements applicable to all of their subsidiaries.”

“Individually, these compliance requirements are not particularly onerous. However, organizations with large group structures often find that it is the sheer volume of filings and differences in local regulatory requirements that cause them to fall behind with their reporting. We help the companies we work with put processes and procedures in place to bring structure to this area of compliance. We also leverage our extensive network of world-wide offices to provide them with local regulatory expertise,” said Jarrod Simpson, Director of TMF Group and head of Corporate Secretarial. The key to avoiding non-compliance penalties is to ensure that your company has easy access to local knowledge of compliance requirements for each foreign subsidiary as well as robust procedures in place to ensure local filings are prepared and submitted in a timely manner. To solve this problem, CGS and TMF have teamed up to provide the necessary regional compliance requirements through CGS’s Global Entity Management Software (GEMS). The unique GEMS Compliance Dashboard provides a quick and detailed analysis of the compliance status on group entities. TMF’s on-the-ground presence and local expertise in 86 offices across 65 countries world-wide will ensure that accurate, up-to-date international business rules and statutory filing dates are embedded into the GEMS software, making it easy for users to ensure that their subsidiaries are meeting local reporting requirements. The software allows quick identification and drill down into details of compliant and non-compliant entities. If necessary, clients may also request further, specific nformation about a particular jurisdiction from TMF via a link in the software. Andrew Moore, Head of CGS in North America, commented, “International subsidiary compliance is a major headache for US Corporate Counsel and Corporate Secretaries.

The TMF-CGS partnership can greatly simplify the entire process through its ability to provide quick analysis via the GEMS Compliance Dashboard and the added ability to consolidate maintenance via TMF”. This document contains privileged and confidential information intended only for the use of the named addressee. Any unauthorised use of the contents of this document is expressly prohibited. If you have received this document in error please notify Computershare Limited by telephone (reverse charges) immediately and then shred this document. Thank you for your cooperation. About Computershare Governance Services Computershare Governance Services is the world’s leading supplier of entity management and subsidiary governance solutions. Today over 250,000 legal entities are administered, governed and kept compliant using our software. We have over 500 clients around the world using our solutions and they are supported by our North American facilities in Toronto, Houston, New York and Shelton, Connecticut, our Asia Pac facilities in Melbourne and Sydney, and our European facilities in Munich, London and the headquarters in Monaghan, Ireland. For more information, please visit www.cgs.computershare.com.

For the official PDF, please click here