Framesoft Legal Matter Management

Matter Management Platform for the Legal Department - The integrated Legal Management Tool for standardized entry, tracking and reporting of Legal Matters

Corporations are operating in an increasingly regulated and litigious environment, potentially exposing them to liability and other costs, the amounts of which may be difficult to estimate.

On the back of increased regulation and supervision in recent years, regulators, counterparties, and others have sought to subject financial services providers to increasing responsibilities and liabilities. As a result, financial institutions need to devote additional resources to address these requirements and their exposure to legal risk such as litigation or regulatory proceedings has increased, in particularly in the U.S.

In addition deficiencies in reporting legal risk may cause additional legal exposure such as publication of misleading financial information can be a criminal offence or result in enhanced scrutiny and enforcement of disclosure by authorities (e.g. Sec. 408 of the Sarbanes-Oxley Act).

The Framesoft Legal Matter Management (FLM) is a powerful matter management and tracking tool designed specifically for legal departments of financial institutions. With FLM attorneys and support staff have direct, immediate access to the information needed to manage their legal matters on a day-to-day basis.

Furthermore FLM provides an integrated platform for covering the complete Legal Reporting process cycle from:

• Periodical requests for Corporate Legal wide Legal Matter Reporting
• Regional / Divisional initiation of the Legal Reporting process cycle
• Creation / Update of Legal Matters by designated members of staff
• Local workflow / approval support
• Regional / Divisional Quality Check and delivery to Corporate Legal Department
• Corporate quality checks, consolidation and Management Reporting
• Generation and submission of reports (Auditors Report, Management Report, Financial Reporting etc.)

FLM is capable of setting up and handling all types of Legal Matters, e.g. such as Litigations, Regulatory Matters, Subpoenas and Internal Investigations as well as Complaints and other types. FLM supports the regional entry / search / tracking and reporting of Legal Matters in the process of creating reports of selected Legal Matters and supports the workflow of these reports (tracking of reporting responsibilities)

All Legal Matters are entered into the FLM via standardized and region specific entry forms with a region / division based predefined set of matter types / matter fields such as Keyword for Matter, Executive Summary, Status of Matter, Amount claimed by Counterparty / Remedy sought, Open Date, Close Date, Legal Entity involved, Business Unit involved, Budget information, Disclosure Information and further more.

Framesoft Legal Matter Management is based on Framesoft Document Management allowing storage of all legal documentation including scanned images of related documents relevant for the legal matter. Advanced search capabilities allow users to find documents by full-text or keyword search.