Legal Compliance Support (EN/ES)

[IMPACT] Please describe your proposed solution.

Compliance is a set of procedures and best practices adopted by organizations to identify and classify the operational and legal risks they face and to establish internal mechanisms to prevent, manage, control and react to them.

Making the elements of compliance available in a facilitated manner has a major impact on project processes. However, the challenge is how to do this in order to effectively train them to ensure that they take in and retain the information provided. Some people need hands-on experience to really get to grips with a topic and others would prefer to simply read. Therefore we will facilitate through an easily accessible and readable manual document that includes simple examples. 

It makes no sense in the environment we find ourselves in to summarize the rules or procedures for each country and time, especially considering that those rules are constantly changing, what is required is to have the judgment and ability to make the right decision at the right time. Everyone has a different understanding of what compliance is and what it is not, based on a number of factors such as their previous work experience and previous education. With this process we will put everyone on the same level of understanding. 

Proposers have in our proposal a tool to be prepared to deal with non-compliance situations, which is as important as establishing controls to prevent non-compliance.

This is a Bilingual tool (English, Spanish). 

OBJECTIVES

Define compliance and its importance

Identify the scope of compliance requirements and strategies to meet them

Describe the lessons learned from high profile compliance failures

List factors that incentivize organizations to comply

Distinguish between financial and non-financial drivers of non-compliance

Summarize the legal responsibilities placed on the board of directors and audit committee to ensure compliance

Describe the positive value of compliance for individual companies and the market as a whole

Explain the importance of a Code of Conduct and detailed policies and procedures in creating a compliance program.

Identify the need to monitor employee conduct to ensure compliance.

Describe the importance of employing a variety of techniques to enforce compliance within an organization.

Select strategies for managing incident response in the event of non-compliance.

[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.

Internalizing compliance is the strategy of this idea. Compliance 

is a set of procedures and best practices adopted by organizations to identify and classify the operational and legal risks they face and to establish internal mechanisms to prevent, manage, control and react to them. In order for projects to have legal and financial frameworks for their projects, they must start from a practical and easily implemented strategy. Legal or financial expertise is not so easily transmitted, for that you need in many cases an expert lawyer or a financier on a permanent basis, since these are professions that work with specific concepts or actions for each case. 

Compliance generates an internal strategy that makes it possible to anticipate risks and prepare projects regardless of the previous training and general knowledge of the person who incorporates them.  

[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?

The compliance information is specialized and should be made available to a general public, facilitating its use and understanding. There will be a risk that users will have many doubts about the information provided, however for this reason a communication channel will be created to answer questions and make adjustments to the information if necessary.

[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.

This proposal will be developed in 6 months starting in October 2022.

First Bimester. October, November, 2022.

Final work plan. According to the thematic objectives stated above. Study and compilation of the information to be provided on compliance.

Second Bimester. December 2022, January 2023.

Structuring of the information and determination of the dissemination tool, there will be a specially dedicated web page. Translation of information to make it available in English and Spanish. Strengthening of an e-mail communication channel that will be available at the end of the last two-month period and for two more months. 

Third bimester. February, March 2023.

Improvement of the image and distribution of the product. Evaluation and planning of the projection of the result to expand its dissemination and use. It will be distributed through the community's communication systems in 2 languages.

[FEASIBILITY] Please provide a detailed budget breakdown.

The costs are the fees for the dedication of the specialized lawyer for six months and two more months at disposal, the web page and its design through a designer who will support the process. And the verification of the texts by a translator.

A specialized lawyer: 3.500x 6m : 21.000

A web designer working meetings: 500x2m: 1000.

A Translator working meetings: 500x2m: 1000.   

Website costs for its first year of operation. 400.

Additional costs for the maintenance of the site and revision in working hours. 600.

Total: 24.000

[FEASIBILITY] Please provide details of the people who will work on the project.

There will be a team of three people: 

The specialized lawyer who is presenting the idea. 

A professional designer. Mateo parada https://www.linkedin.com/in/mateo-parada-gonzalez-b823a655/

A translator who will verify the texts. That is between two people of confidence.

[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.

Considering the expandability and scalability of this project, we will present it again. We would present it with the objective of strengthening it, expanding it, improving it and giving it greater scope over time. 

[FEASIBILITY] Are you or any member of your team working on any other proposals in this Fund9?

[FEASIBILITY] Are you or your team working on any other proposals from previous Funds?

[AUDITABILITY] Please describe what you will measure to track your project's progress, and how will you measure these?

Progress will be monitored on a monthly basis according to the work plan. In order to have a real audibility, a web page will be available from the second month of development and will be under permanent construction. http://newcryptoreality.com/ It will be accessible at any time. This page will be available to all interested parties and will be the definitive web page to provide the information.  

This page will have a section dedicated to the evolution of the project. 

Monthly reports will be presented with precise data on the evolution through percentages. The same compliance rules will be applied to the project that we are proposing to incorporate to the Cardano community. 

Later in the dissemination stage the following metrics will be tracked: Use case - How many funded proposals are using the instrument. 

This is a multilingual instrument (English, Spanish), which is also applicable to all environments and countries, regardless of their legal structure. This guarantees great scalability and adaptability. As it is available on a website and in different languages, it is easily distributable. 

[AUDITABILITY] What does success for this project look like?

Make available to the community an appropriate and well-structured compliance tool, easily accessible and in three languages. In addition, this tool should be complete and provide procedures, good practices and allow users to identify and classify their operational and legal risks in this process, and at the same time, this tool should provide them with the tools to prevent, manage, control and react to them. 

[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.

Entirely new one

Sustainable Development Goals (SDG) Rating

SDG goals:

Goal 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

SDG subgoals:

8.2 Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

Key Performance Indicator (KPI):

8.2.1 Annual growth rate of real GDP per employed person

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