MANAGING GLOBAL COMPLIANCE IN A CHANGING WORLD
Does managing compliance for international entities find you dealing with multiple challenges like a decentralized approach, compliance uncertainty, and limited transparency—not to mention time zone, knowledge, and language barriers? You’re not alone. The global entity compliance landscape is constantly shifting, making corporate governance complex for companies.LEARN MORE
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During this hour-long webinar, we’ll explore the challenges of managing a multinational entity portfolio, how the global corporate secretary outlook is evolving, and discuss ways that the suite of CSC Global Subsidiary Management services can assist. Our experts will discuss:
Corporate secretary workflow centralization and simplification, including how CSC Entity ManagementSM does this for your data and documents
Managing annual corporate secretary maintenance events proactively
The benefits of partnering with a single global provider with services in over 140 international jurisdictions
CSC’s concierge-level support
Disclaimer: Please be advised that this recorded webinar has been edited from its original format which may have included a product demo. To set up a live demo or to request more information, please complete the form to the right. Or, if you're currently not on CSC Global, there's a link to the website in the description of this video. Thank you.
Caitlin: Hello everyone and welcome to today's webinar, "Managing Global Compliance in a Changing World." My name is Caitlin Alaburda, and I will be your moderator. Joining us today are John LaPalomento and David Jefferis. John is a product manager on the CSC Global Subsidiary Management team. He has been with CSC for 11 years, previously as a sales team leader and a product engineer with CSC Matter Management Solutions. John works with GSM prospects to present an accurate and clear scope of services and remains in contact with them as the overall relationship manager for all GSM clients.
David is the senior product manager for global compliance and government services at CSC in the Wilmington, Delaware headquarters. With CSC for 15 years, he has significant experience providing training, implementation, and consultative services to clients of CSC Entity Management and consults with those evaluating CSC Matter Management Solution. And with that, let's welcome John and David.
David: Thanks, Caitlin.
David: Hey, we're chomping at the bit to say thank you. We're so excited to be a part of today's webinar. We want to, you know, thank our audience for being able to share some time with us today. We think we have a really compelling presentation to share with folks. And so we're excited to really dive into the deck. And certainly there's an opportunity to ask Q&A via the widget, as we go, and then certainly we'll make sure to save time at the end. So, really, without further ado, I want to get into the agenda, which folks should be seeing on their screen.
We really do want to start at the beginning with just kind of taking a bit of time to talk about the landscape. What does it mean to manage, you know, non-U.S. international entities, kind of what's happening in the world of, you know, governance compliance related to global entities in terms of things like regulations? We'll also talk about, you know, some of the challenges that we see organizations facing that, again, are looking to maintain strong positive good governance around their international portfolio of entities.
And then really what I think is the bulk of today's presentation, is where John specifically is going to take folks through, a suite of services at CSC that we call Global Subsidiary Management, which is our proactive corporate secretarial offering where we can help maintain the compliance of entities through various changes. And John's going to go into sort of the pillars of that offering, including what we call our corporate health check service, our ongoing annual support, and then support for change management. And then really sort of almost what you can think of as the fourth leg in the chair, so to speak, is entity management, which is the technology platform that provides our clients with interactive transparency to the work that we do for them, both domestically and certainly globally, through our suite of GSM services. So we'll have an actual live demonstration of that technology. And then again, at the tail end, we'll make sure that we have a little bit of time for some Q&A as well.
So to set the table, so to speak, we do again want to talk a bit about just sort of the landscape in terms of managing global entities. And really one of the first points that we want to drive home is that managing entities outside the United States is just so dramatically different than sort of what's involved with corporate governance inside of the U.S. And so the slide here breaks it down sort of, if you look at it on its face, as sort of U.S. and then the rest of the world. But really, we want to be candid that it's really much different than that.
So, starting with the U.S., this maybe is a little oversimplified, but naming an organization as your registered agent, maybe engaging that provider to help prepare and file your annual reports for entities that are, in most cases, registered with the secretary of state here in the U.S. That really goes a long way in terms of ensuring that you are, again, maintaining your critical good standing for those entities.
Now, certainly there are often additional requirements around what are generally described as "business licenses," which, in many cases, get down to the county or local level. So, again, there certainly can be some local complexity based on where you're doing business and the industry that you're in. But, by and large, again, naming an agent, having a provider assist you with annual report filings goes a very long way in the equation of maintaining your good standing status.
Once we step out of the U.S., it gets just really more complicated rather quickly. And so, you know, a registered agent exists in some places outside of the U.S. So, if you think about some of the U.S. territories, if you think about Canada, for example, there are a lot of registrations where a registered agent would be an applicable service in Canada. But once you start to really step outside of the U.S., by and large, you're getting into a more in-depth range of services that are required, again, sort of going beyond the concept of registered agent, getting into what is often described as corporate secretarial in nature.
And again, there's just nuance from jurisdiction to jurisdiction. Maybe to say it another way, the filings and the activities that you would need to maintain good governance for entities in India bear little to no resemblance to what you need to do to maintain compliance for an entity in Brazil or Hong Kong or China, and vice versa. So there is just a need for knowledge within those jurisdictions to kind of understand what's due, when it's due, and, again, all of the obligations, so to speak, to maintain that compliance.
And, of course, nothing is ever static. So those regulation changes are happening quite often. It would just . . . again, adds further complexity to trying to do this yourself, so to speak, and being able to understand what's happening in various parts of the world where, again, you have a presence with your legal entities.
And then, maybe the last bullet point, which is a little bit of a segue in terms of creating a dramatic difference between managing entities in the U.S. versus other parts of the world is the amount of due diligence and the scrutiny that goes into being able to operate illegal entities outside of the U.S. And that's really, again, a little bit of a segue into the next couple of slides.
And so, if you see here, on the next slide, the first kind of section here, or swimlane, talks about some of the releases of information, sort of exposés, if you will, and the Pandora Papers are the most recent example of where, through leaks of information, we're learning that, in some cases, companies, high-profile individuals are really, from the looks of it, concealing wealth by engaging in sort of aggressive strategies in terms of how they invest in offshore companies. And there actually have been some regulations that have come out as a consequence of some of these exposés, we'll talk about ultimate beneficial ownership on the next slide.
And then also kind of, in the framework of what's happening globally, you'll see the second swimlane there is data privacy. So I think a lot of folks are familiar with GDPR, which is a framework of privacy laws that were passed in the European Union and the general sort of European Economic area, where companies have to really abide by a series of regulations in terms of how they are storing and, potentially, sharing sensitive customer information. Sort of for the first time putting some power back into the hands of consumers in terms of how the reported organizations are managing and sharing their information. And so really caught in the crosshairs of all this, so to speak, are organizations that either have an international presence or are looking to expand globally into various jurisdictions and trying to sort of navigate the nuances of, again, what's required in jurisdiction and then understanding, again, some of these privacy frameworks as well.
So the final side where we kind of talk about the landscape gets into really the due diligence, and we talked about this being a key difference between the complexity involved in managing U.S. companies versus non-U.S. companies. And this is a little bit of alphabet soup here, so AML, KYC, and UBO. So let's kind of take it from the top and just talk briefly about some of these concepts.
So anti-money laundering, kind of at the highest level, it's a series of regulations that are in place to really deter criminal organizations by making it harder for them to conceal sort of illegally-obtained funds. And so financial institutions specifically are monitoring customer transactions and reporting on suspicious activity, including looking at activity that, in some cases, might sort of precede, you know, money laundering or funding terrorist organizations, looking at things like securities fraud and market manipulation. And really what it all comes down to is that the best way to prevent money laundering is to know your customer. Which is the next bullet that you'll see there on the slide. So, really, at the heart of it, is sort of understanding, "Who am I doing business with?" So, if you're looking to engage with an in-country partner to provide services, again, there's going to be a lot of scrutiny around being able to sort of, again, document and really verify, identify the key individuals within your organization.
So, again, KYC, it's about the ability to identify key stakeholders, either in advance of, or, in some cases, during a business relationship with a provider in-country. This framework was introduced back in the '90s. And then, in the wake of 9/11, it really started to gain strength in the early 2000s. And so, again, being able to identify a customer's identity, so to speak, is really at the heart of both, what we call, AML, as well as KYC.
And in terms of how this impacts organizations, when we talk about KYC, it's really a lot about document collection. And so, you know, the question comes up, "Well, what types of documents do we need to be able to provide to sort of, again, prove our identity?" And some things might be obvious. You know, if we're talking about a director, it could be, you know, passport, a copy, or driver's license, a social security number. But in other cases, and John we'll talk about some of this in more detail, there might be a need to prove residency in a particular country. In those cases, you're looking at maybe copies of utility bills and other means of, again, being able to verify that that individual in fact is a resident of the country where that entity is operating and registered to do business.
And then, lastly, ultimate beneficial ownership. And so, as a quick means of a definition, a beneficial owner is really a person that controls a significant interest in the legal entity. When you talk about UBO, now we're talking about the ultimate beneficial owner, which is sort of at the top of the chain, if you will, the ultimate beneficiary of when an entity performs a transaction. And so a lot of companies really, as a result of the Panama paper scandal, that was back in 2016, have put regulations in place that require what's known as a UBO register where organizations' entities have to provide a list of beneficial owners for their entities. And it's all about trying to prevent organizations from sort of concealing wealth.
And then really what we've seen more recently here in the U.S. is that framework is starting to come to America. Right? So, at the beginning of this year, there was the passage in Congress of what's known as the Corporate Transparency Act, or what's called the CTA, which really gets into requiring a number of businesses to provide ultimate beneficial ownership to what's known as the Financial Crimes Enforcement Network, often called FinCEN, and those requirements are supposed to kick in at the very beginning of next year. So, again, it's sort of as if, you know, the bad guys are making it harder on the rest of us. So, again, these are some of the complexities that are involved with, again, properly maintaining good governance of entities that are doing business outside of the U.S.
So, with that, is a little bit of a backdrop and kind of a framework of the landscape. Now what we want to do is shift gears a little bit, and I'm going to bring John into the conversation, and talk about, you know, what are some of the challenges that we hear from organizations that are, again, managing a portfolio of, not just U.S. companies, but international entities as well. So, John, can you speak to some of these challenges?
John: David, I certainly can, and I'm happy to present information today and share information with everybody on the call around the world. I look forward to answering your specific questions as we go through the Q&A widget. I hear, from time to time, on a daily basis, different challenges that our clients face. As a point of reference, my role here, at CSC, is largely speaking with prospective clients regarding our suite of international services and helping understand your challenges and really formulating a solution that makes the most sense for your organization. And there are some things that come up on a periodic basis, and I'm happy to look at some of those here.
First of all, it's just dealing with sometimes a lack of expertise when it comes to working internationally. Of course, CSC is very much a global organization, we work around the world in about 140 jurisdictions and we have clients who are based around the world. But, of course, with our headquarters here in the U.S. and our deep roots in Delaware, we do have largely a U.S.-based clientele who oftentimes come to us needing some education, when it comes to understanding what happens around the world. And I hear regularly that one of the biggest challenges they have is just understanding what is required in different jurisdictions and trying to bring that into focus. Very commonly, I have Americans and Europeans looking through the eyes specifically of Americans and Europeans, as opposed to looking at how things have to happen in a given jurisdiction.
The second bullet here talking about some of the logistics of working internationally. Especially if you're working across many different borders and you have presence in many different corners of the world, it's very challenging to, as you see here, work with different vendors. I very commonly hear the phrase "We're herding cats," and it's a really challenging situation where you have different touch points, different conduits of information. Of course when you're working against different time zones just trying to align your own efforts with the efforts of either your in-country personnel or those by way of third-party law firms, trust companies, and so on.
From a logistics standpoint, dealing with currencies, different with challenges in understanding how your costs look, and we're going to look at that in the next bullet point in a little more detail, but of course, when you're being invoiced in multiple currencies around the world, from a logistical standpoint, it's very challenging, of course, for your accounting systems and your accounting personnel.
And lastly, we have here languages. While many of the vendors you're using now probably have a capability to work in English, oftentimes, the communication is challenging, especially when you're cross comparing the language challenge and the time-zone challenge when some people are sleeping and some people are awake and speaking different languages. It really is a challenging situation. Now, any one of these logistical hurdles are challenging. But when you bundle them all together, of course, it becomes exponentially more difficult.
The third bullet here talking about understanding costs. Costs are one of the overwhelming problems that I hear from people. Not just costs in saying that, "Hey, these services are very expensive." And realistically, these are more expensive services than what you experience here, in the United States, and certainly different parts of the world but just understanding what your budget should look like. I commonly hear that there's invoices that are coming in, first of all, sometimes with some different language, but secondly, in different currencies, in hourly rates. And there's really no way to understand your overall budget on a year-to-year basis. Even if you're using some kind of legal billing system, it's sometimes difficult to differentiate between corporate secretarial services versus what some other services that a law firm may be taking on for you, if that's the way you're currently acting. And even if you have that well split out, you understand that there may be significant nuance from jurisdiction to jurisdiction in terms of what costs may look like, what inclusions may look like. There's a lack of consistency when it comes to your budgeting.
Lastly here, and these are four highlights, of course, there's many more challenges than this. But lastly on this list, the management of your data. Both the data that is a by-product of ongoing corporate secretarial services and historical data is extremely challenging. This kind of goes back to the logistics piece where, if you're working with multiple vendors, all of that byproduct data, the documents that are being generated, annual general meeting minute documents, annual resolutions, all of those documents, and all of the corresponding data, changes to officers and directors, formation of new companies. Keep in mind that that data has to be managed typically in some central system. And if you are holding the keys to that system, whether it's a series of Excel spreadsheets or databases or you do have some technology put in place to manage that, somebody's going to have to roll up their sleeves and get their hands dirty with all of that data in order to collect reliable data and making your data searchable and trustworthy. So I hear that as a common challenge when it comes to organizing that data.
Very good. We are going to start talking about the CSC solution. So our goal with the CSC solution is to overcome all of the obstacles that we've just presented, and then some. The CSC solution for global corporate secretarial service, we call CSC Global Subsidiary Management, and the benefits are plentiful. First of all, CSC truly offers centralization and simplification. We're going to take the existing structures that are in place and simplify them, giving you a single point of contact with a full team of people backing that person up. And, of course, we have hubs for this service out of our Delaware global headquarters, our London European headquarters, and our Singapore Asian headquarters. So, if there's a need for regionalization or if you and your teams are located around the world, we can simplify that.
When we talk about centralization, we're talking about centralization with a multiple pronged approach to centralization. The centralization of your corporate secretarial workflows, the centralization of your data and document management by way of our proprietary technology, and the centralization of all of the admin work, the logistics around billing and invoicing as well. These services truly are built on a partnership. Your team, assigned to you here at CSC, should act as an extension of your legal team there or maybe your accounting team, whoever owns corporate secretarial governance, and you should feel that they're truly working on your behalf to making sure that we're hitting all of your needs in terms of the way you do business around the world. We're taking truly a proactive approach to corporate secretarial governance.
These services truly are comprehensive. So we're here not to handle a simple appointment in country, we have many people come to us looking for just the provision of maybe registered office thinking that that's what CSC would provide, being we're largely thought of as a registered agent services provider, here in the U.S. But that's not the case. Our services are comprehensive and flexible to attend to all of your corporate secretarial obligations that differ from jurisdiction to jurisdiction.
These services, as I've already mentioned, are very proactive. So you have CSC, your project-management team who are really acting, as I like to think of them, as an air-traffic controller for all of your corporate secretarial needs and making sure that we are ahead of the game when it comes to corporate secretarial governance. We're working with you by way of regularly scheduled communication to help you understand what's coming up over the next 30, 60, and 90 days when it comes to regularly scheduled maintenance events. Working with you proactively to have drafted your annual general meeting documentation, working proactively to make sure that we have the documents or data needed for annual filings in country. And very importantly, we're understanding any kind of regulatory changes in country proactively to set you and your team up to succeed.
Global Subsidiary Management, or GSM, as we commonly call it, is truly dynamic. We understand that you're going to have changes that, in some cases, at a moment's notice need to be attended. And we're here to make sure that we're satisfying those, whether it's the formation of a new company, attending to merger and acquisition activities, or changes because of regulatory change in country, this is not a concrete solution that is going to sit there and wait. This is truly moving and growing as business changes around the world and as your portfolio changes as well.
GSM truly is cost-effective. And I think the first cost effectivity that you're going to find is the simple fact that you're working with one provider and, most commonly, replacing many different providers around the world. You're going to see economies of scale just based on the fact that your entire portfolio can reside with CSC, as opposed to a fractured network of providers around the world. But we also bring cost effectivity by way of flat rate costs in U.S. dollars, as opposed to hourly rates in every currency under the sun.
CSC truly is a marriage of our time-tested service, our 120-years plus of services and our award-winning technology. And as David mentioned, he's going to give a quick overview of our award-winning CSC Entity Management technology. When we talk about this being a marriage, that's because we are automating the capture of data and documentation. So, again, rather than you rolling your sleeves up and managing all of that data on your own, we're here to capture that for you and present that in a way that is intelligent.
Lastly, GSM truly is peace of mind. I speak with people on a daily basis who I can hear in their voices that they don't trust the data that they have at their fingertips or the status of their entities in terms of corporate secretarial governance around the world. We're here to set that up in a way that is going to make things simple for you and bring visibility and trustworthy data and, ultimately, the peace of mind that your entities are being managed properly from a corporate secretarial governance standpoint around the world.
So let's go ahead and bring some focus here and we're going to talk about the specific services that CSC provides. Of course, for the sake of time, we're fairly abridged, but if there are any other questions, feel free to hit us in the Q&A widget and we'll address them as we go.
So the transfer of your entities to CSC and a corporate health check. This is a vital and valuable part of our services. We don't just flip a switch and start managing the company, we do start by organizing information for you and researching the entity. So the transfer in the corporate health check, first of all, the transfer, we're going to start by scheduling an organizational kick-off call. On the kick-off call, we're going to bring together the key players on your side and your project managers and some managers, oftentimes I join organizational kick-off calls. It's really about handing everything that had been discussed in a pre-sales capacity, handing it off to our operations team with great organization.
During this kick-off call, not only is it a time for introductions, it's also a place where we're going to talk about best practices from our perspective and goals from your perspective, to make sure that we're all in alignment. We'll talk about some of the appointment filings that will be happening. In some jurisdictions, CSC will be taking on appointments, most commonly appointments of domiciliation, like registered office, or appointments like resident company secretary or maybe fulfilling resident director appointments. So we'll understand specifically where there are maybe some additional needs to be brought into focus. We'll talk about, where applicable, the transfer of physical minute books. In jurisdictions where CSC is taking on your registered office appointment, most commonly, we would also be maintaining the physical minute books at our addresses in country. And we'll talk about simplifying those processes. And, ultimately, we'll talk about the collection of KYC due diligence, as David had referenced earlier.
Now, the way CSC handles KYC, and I know everybody sees the acronym KYC and eyes roll, for a good reason, it's a challenge. But we're here to simplify those processes. When you're working with multiple vendors around the world, you're duplicatively producing documents, or those data points and documents, over and over again. As a single provider, we're here to collect once and apply as necessary. And we're also here to work within the confines of the region, or the jurisdiction, but we're not here to impose additional more taxing requirements the way that banks commonly do. So we do need to work, of course, within the confines of regulation but we're here to make it as simple as we possibly can.
Honestly, the heaviest lift that you're going to have when it comes to transferring entities over to CSC's management is that collection or production of KYC due diligence. And we're here to make it simple and organized for you.
Moving on to the corporate health check. The corporate health check, that phrase is not unique to CSC but the way CSC handles a corporate health check is much deeper than many other organizations out there. This is a comprehensive audit of all of your entities outside of the United States. Now, I do define this as "outside of the United States" because our global subsidiary management team specializes in these corporate secretarial services outside of the U.S., but we have similar kind of audits here domestically in the U.S. as well.
This is based on publicly-available data at the country registry. In many jurisdictions, we're physically walking into the business registry and pooling data. Fortunately, the world is becoming more and more digitized and we're able to pull information digitally. And we'll be understanding information that is on file and country. So current jurisdictional identification information will be understanding your current slates of officers and directors. In many cases, where publicly available, we'll understand current signing authorities and powers of attorney. Very specifically, we'll understand all of the dates and deadlines from a corporate secretarial maintenance standpoint. It's very easy for me to tell you that, in India, you have quarterly board of directors meetings and an annual shareholders meeting. But bringing those due dates into focus because it's based on previous year's meeting dates, by doing that research, we're able to do so and calendar those events.
And you'll see here that we're understanding deficiencies as well. So, if you have any entities that fail to file their annual accounts last year or you don't have the right number of directors in place or you're not satisfying a residency requirement, by doing this research, we'll be able to understand where those deficiencies exist and suggest remedial actions to be taken. And, of course, CSC can follow through with those remedial actions, if that's your goal.
Ultimately, we're bringing into focus the needs of the entity, the deficiencies of the entity, and then bringing to you trustworthy data. That data we're happy to capture for you within CSC Entity Management. So once that data is clean and has been vetted and reviewed with you, for no additional cost, we'll migrate that data into our award-winning technology.
So let's go ahead and move forward and talk a little bit about our core service, which we call annual compliance support. So we've already defined the transfer to CSC but this is about regularly-scheduled maintenance and managing your entities in a proactive fashion.
Annual compliance support is here to centralize your workflows through a single global CoSec provider. You will have a single point of contact assigned to you with a full team of people to back that person up. We call that your project-management team, and they're here to work with all of your entities around the world. So, to be clear, you're not working with different touch points in different regions, unless that's your goal. You're not working with different touch points in different countries, you're centralizing all of your corporate secretary work, both the regularly-scheduled maintenance and any change management, through one team.
Annual compliance support is dynamic and really about managing the in-country management items that are identified on the corporate health check. So we use the dates and data capture on the corporate health check as the foundation for ongoing corporate secretarial services. Annual compliance support is quite flexible by jurisdiction but, generally, it includes the maintenance of your minute books and shareholder registers. And, of course, we capture all of that information digitally, within our technology, but physically in country we're required as well, so we're drafting documentation and sending it either to your offices to be captured physically or where CSC is handling that for you we would've certainly handled that.
We're also attending to your annual general meeting requirements. Now, I loosely say "annual general meetings." Of course, there's jurisdictions where there's no annual meeting requirement and jurisdictions where there are obligations for quarterly meetings. So we're very flexible in terms of what is included but basically we're building our inclusions based on the requirement in country. We're drafting all of that documentation in dual language, so there's a standard English inclusion for no additional cost. And when it comes to annual general meetings or the equivalent, we're generally drafting either a pro forma set of minutes along with an agenda and a notice for the meeting in a proactive fashion. Or, where acceptable, and very commonplace in a COVID-marred world, we're working to generate resolutions to be circulated by the directors and executed. And we're here to work with you for that circulation for signature and, ultimately, handle any in-country filings that are required, as well as the minute book upkeep.
We're also here to handle any kind of annual reports or the equivalences around the world. So very commonly, in Europe, we're drafting resolutions approving your annual financials and handling that subsequent filing. In other jurisdictions, there are other types of annual report obligations, like your solvency resolution in Australia, your confirmation statement in the UK, your filing in Mexico with the Mexican entrepreneurial information system, and so on. So any annual report obligations that are due to the equivalent of a business registry in country, CSC is handling that, again, as a standard inclusion of annual compliance support.
Let's talk about registered office services for a second here. Registered office services are really going to be included based on common practices in country. Our general suggestion is that, in most jurisdictions, if your organization has a physical brick-and-mortar location in country, that really should be used as your principal place of business, or domicile, and listed as your registered office or registered address in country. That's the most common practice in the majority of jurisdictions. But the opposite is true in a good number of jurisdictions. And in that case, we include registered office where that's the most common practice. So, in jurisdictions such as Canada, the UK, Ireland, Hong Kong, Singapore, Australia, New Zealand, lots of island jurisdictions where the common practice is that your corporate secretary partner would act in that capacity, it's a standard inclusion. Our goal is to build this service in an intelligent fashion, as opposed to trying to sell you additional services that really should be the norm.
Similarly with resident director services. I'll always suggest, in jurisdictions where you have requirements for residency, that you use your own director-level personnel where that's feasible. But where it's not feasible, you can certainly turn to CSC to fulfill these obligations in a nominee fashion.
Now, there are some local appointments that we include as a standard obligation in the similar sense that we include registered office in some jurisdictions where there are appointments that are commonly handled by your company secretary provider, we include that. That would include services like a company secretary appointment in the UK, your resident company secretary obligation in Singapore, your ASIC agent position in Australia, and many others. So there's some flexibility there based on your own capabilities and commonalities in country.
CSC is going to work to generate all of the data and documents in dual languages and then capture them upon completion within CSC's Entity Management technology. So this is one of the place where we're marrying service and technology together. And, of course, critically for our North American clientele on the phone here today, we're going to be providing you with a U.S.-based support team but in-country expertise.
Now, this slide does reference U.S.-based support but we do have support, as mentioned, out of hubs for this service in London and Singapore. So, if there's a need for some regionalization, we're here to set that up for you as well. And, as I've already highlighted, all of these services are bundled together in a flat-rate pricing model. So where we've talked about budget uncertainty on previous slides, in terms of challenges, we're here to put that budget on a silver plate for you and make you very aware of how the pricing works and what's included for that price.
David: John, I'm excited to get into the technology demo but I think there's again still another key element of the service that we'll have you describe, which is something that is inevitable, which is change. So do you want to kind of take us through this?
John: Absolutely. Yes. So while I've defined annual compliance support as inclusive of regularly-scheduled maintenance events, outside of regularly-scheduled maintenance events there's plenty happening and we're here to support that for you. Any kind of change that your organization is managing can be centralized through CSC. Very commonly, we're managing portfolios of officer changes or director changes. Commonly, I hear that, when there's a director change, if that director held a position in 10 entities in 10 countries, you'd be having 10 projects with 10 different providers paying 10 different hourly rates in 10 different currencies. We're here to make that one project with CSC, providing flat-rate pricing, managing that as one project with one workflow, and, ultimately, consolidating your invoices in flat-rate U.S. currency costs.
Some of the common changes that we take on include officer and director changes, formation of new companies, or liquidation and dissolution services for end-of-life entities. Any kind of ad hoc resolution that might be necessary, including things like banking resolutions or appointing new powers of attorney and commonly document-retrieval services. Again, like annual compliance support, not only are we centralizing the workflows but we're capturing that data and documentation centrally within the CSC Entity Management technology. And that's a perfect transition over to David and an overview of our Entity Management technology.
David: Awesome. Thank you, John. Before we do launch into the demo, we have, I think, one quick slide, just a high-level overview of the capabilities. And then, Caitlin will kind of take our audience through the best ways to kind of maximize the demo experience that we're about to jump into.
But first things first, let's talk a bit about the software platform itself. So this is an award-winning solution that we call CSC Entity Management. And I think one of the themes that you've heard John touch on, I certainly want to revisit it because it's really critical, is that the strength really of the solution that we offer to the market is the marriage, if you will, the interconnection of the services that we offer, both globally, which certainly is our focus today, but certainly domestically as well, as a registered agent, with this award-winning Entity Management technology.
So, within this platform, that you're going to see in just a moment, there are so many capabilities for managing directors and officers, being able to manage entity documents and create secure minute books, being able to track ownership structures and, from that, automatically generate structure charts to create visualization around your org structures, your org charts, being able to track compliance obligations in terms of calendars, having built-in reporting functionality. It's incredibly robust. And I won't be able to do it justice in about 10 or so minutes that will have to go into it, but really we hope we give you just a little bit of a lens into the transparency that you'll have when you're engaging us for global services but also your ability to build on top of that interactively as well.