NEW YORK and LONDON, Sept. 10,
2018 /PRNewswire/ -- Broadridge Financial Solutions,
Inc. (NYSE: BR), a global fintech leader and recent addition to the
S&P 500 Index, has launched a new solution to support
investment firms with their MiFID II ex-post reporting obligations
outlined under Article 50 of the Delegated Regulation. This latest
solution is part of a suite of MiFID II services developed by
Broadridge's FundAssist business - a leading regulatory and
distribution solutions provider to the global investments industry.
The solution has already created significant market interest,
including the signing of a leading international investment
firm.
Broadridge's solution will aggregate and process investor and
product data, calculate the personalised cost information and
produce the end investor statements. The highly automated, straight
through process will help enable investment firms to meet their
regulatory obligations and deliver investor statements ahead of the
regulation deadline.
Under Article 50 of the MiFID Delegated Regulation, an
investment firm is obliged to provide annual ex-post information
about all costs and charges related to both the financial
instruments and investment services provided to their clients. The
information for calendar year 2018 must be provided to clients no
later than the end of April 2019 and
must be personalised, based on actual incurred costs and show the
cumulative effect that these costs have on the return on
investment.
"MiFID II compliance adds to the scale and complexity of
regulatory change affecting firms operating in European
jurisdictions," said Patricia Rosch,
president of Broadridge's international Investor Communication
Solutions business. "Delivering proprietary end-to-end solutions,
based on advanced technology and combined with our exceptional
depth of regulatory expertise, helps investment firms manage this
highly complex regulatory issue and be prepared to capitalise on
what's next."
Broadridge acquired FundAssist in May
2018 to further expand its best-in-class fund management
capabilities and help global funds increase efficiency and
transform their compliance frameworks in response to new
regulations and market practices. FundAssist provides a complete
suite of capabilities to enable the composition, management and
distribution of digitised regulatory and disclosure information for
global investment firms distributing in Europe. Using an advanced, flexible technology
platform, its data-driven, end-to-end solution includes support for
investment data analytics, MiFID II costs and charges, a suite of
PRIIPs support services, UCITS KIID, pre- and post-sale financial
statements, fact sheets, translation and document and data
dissemination.
About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE: BR) a global fintech leader and a member of the S&P 500,
is a leading provider of investor communications and
technology-driven solutions to banks, broker-dealers, asset
managers and corporate issuers globally. Broadridge's investor
communications, securities processing and managed services
solutions help clients reduce their capital investments in
operations infrastructure, allowing them to increase their focus on
core business activities. With over 50 years of experience,
Broadridge's infrastructure underpins proxy voting services for
over 50 percent of public companies and mutual funds globally, and
processes on average more than US $5
trillion in fixed income and equity trades per day.
Broadridge employs over 10,000 full-time associates in 18
countries.
For more information about Broadridge, please
visit www.broadridge.com.
Media:
EMEA
Cognito Media
Oliver Mann/Georgie Gold
+44 207-426-9417
BroadridgeEMEA@cognitomedia.com
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SOURCE Broadridge Financial Solutions, Inc.