We advise businesses and boards on which licences and approvals apply, compliance policies, and responses to regulatory enquiries or inspections.
Overview
Regulatory and compliance advice helps businesses understand the rules that apply to them and meet them. Many activities, from financial services to employment and data handling, are subject to oversight by regulators with powers to set conditions, require information and impose penalties.
Compliance is often treated as a burden, but a clear process is usually less costly than a regulatory problem. Knowing which licences or registrations you need, what you must report and when, and who in the business is responsible makes obligations manageable.
The starting point is identifying which rules and regulators apply to your business. That answer depends on what you do and how you are structured, and it can change as the business or the law changes.
We explain your obligations in plain English, help you build processes and policies that fit how you work, and support you if a regulator makes an enquiry. If a point is uncertain, we say so.
Who we help
- Businesses entering a regulated activity or sector.
- Companies preparing for an inspection, audit or enquiry.
- Boards and managers responsible for oversight of compliance.
- In-house counsel who need support on a regulatory question.
How we work
- We learn what the business does and where it operates.
- We identify the likely regulators and obligations, and flag open questions.
- We agree the scope and fee approach, including alternative fee arrangements where suitable.
- We help you put policies and processes in place, and advise on regulator contact.
What to bring to a first conversation
Bring a description of what the business does and where it operates, any licences or registrations it already holds, and recent correspondence from a regulator. If a regulator has contacted you, bring the letter or notice and note any date by which a reply is requested. Existing policies, such as compliance or data handling policies, show us what is already in place. We will work out which rules and regulators apply, and flag questions that need confirming.
Typical work
Checklist of licences, registrations and approvals
Read the related questionCompliance policy and internal procedures
Read the related questionResponse to a regulatory enquiry
Read the related questionCompliance review before a transaction
Read the related questionBriefing for the board on regulatory responsibilities
Read the related question
How a compliance review usually works
The scope changes with the business. This is a general outline.
Describe the business
We list your activities, structure and locations to see which rules may apply.
Identify the rules and approvals
We prepare a checklist of licences, registrations and ongoing duties.
Find the gaps
We compare the checklist with what the business already has in place.
Fix and document
Policies, procedures and records are prepared or updated.
Review regularly
The position is checked on a schedule, and when the business or the rules change.
Frequently asked questions
Information on this website is general in nature and is not legal advice. Anything that depends on the law is marked until a lawyer has checked it.
What is compliance?
Compliance means following the laws and rules that apply to your business or activity, and being able to show that you do. It usually involves licences or registrations, reporting, internal policies and record keeping. Good compliance prevents problems, which is usually cheaper than responding to them.
How do I find out which rules apply to my business?
Start by listing what you do, how you are structured and where you operate. The rules depend on those facts, and several regulators can be involved. A short review of your activities is the usual first step, followed by a list of the rules and approvals that apply.
What should I do if a regulator contacts me?
Read the letter carefully and note the date by which a reply is due. Do not ignore it or reply in a hurry. Collect the documents it asks for, and get advice before responding, because what you say can affect later steps. We can help prepare the reply.
Do I need a licence for my business activity?
Some activities need a licence, registration or approval, and operating without one can lead to penalties. Whether yours does depends on what you do and where. Check before you start, not after. We can prepare a checklist of what applies to your business.
What is a compliance policy?
A compliance policy is an internal document setting out how the business meets its obligations. It says who is responsible, what steps are taken, and how issues are reported. A policy only helps if it matches how the business really operates and staff know about it.
What happens if my business does not comply?
The consequences depend on the rule and the regulator. They can include penalties, orders to change practices, restrictions on operating, or in serious cases further action. The earlier a problem is found and fixed, the better your position is likely to be. Seek advice promptly.
How often should compliance be reviewed?
Review it at least once a year, and again whenever the business or the rules change, for example when you start a new activity, enter a new market or a regulator issues new requirements. Regular reviews keep records current and help find issues early.
What records should we keep for an inspection?
Keep your licences and registrations, policies and procedures, records of decisions and training, filings made to regulators, and correspondence with them. Which records are required, and for how long, depends on the rule. Keep them organised so you can produce them quickly if asked.
Who in the company is responsible for compliance?
Ultimately the board and senior management are responsible, even if day-to-day tasks are assigned to others. Many businesses name a person to lead compliance and report to the board. The right set-up depends on the size and the rules that apply.
Glossary
- Regulator
- A public body that sets or enforces rules for a sector or activity, and may grant or withdraw licences.
- Licence
- Official permission to carry on a regulated activity. Operating without one when needed can be unlawful.
- Compliance policy
- An internal document explaining how a business meets its legal obligations.
- Inspection
- A check by a regulator of a business’s premises, records or practices.
- Penalty
- A fine or other sanction imposed for breaking a rule. The amount depends on the rule.
- Audit trail
- Records that show who did what and when, so a decision or action can be traced.
- Whistleblowing
- Reporting suspected wrongdoing inside an organisation. Protections depend on the law.
Sources
Official bodies named for reference. Check the current text of any law with the body itself or with a lawyer.
- Securities and Exchange Commission of Pakistan (SECP)Regulator for companies and parts of the financial sector.
- State Bank of PakistanCentral bank and regulator of banks and payment systems.
- Federal Board of RevenueTax authority. Registration and filing duties may apply.
- Pakistan Code (Ministry of Law and Justice)Official federal law database. Sector and provincial rules may also apply.
Questions about your own matter? Send us a message.
General information. Not yet reviewed by a lawyer.
How we write and check this content: editorial policy.
Information on this website is general in nature and is not legal advice.