The new offering will help clients address challenges posed
by MiFID II Article 50 and Solvency II
LONDON, Sept. 25, 2019 /PRNewswire/ -- In response
to growing demand from European wealth and asset managers who are
facing increasing regulatory pressure, Broadridge Financial
Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the
S&P 500® Index, is working with FundsLibrary, a
leading provider of digital fund data and regulatory solutions, to
develop a best-in-class offering to address the challenges posed by
MiFID II Ex-Post Costs and Charges and Solvency II.
New rules around MiFID II's ex-post disclosure have introduced
greater transparency for investors and have also generated
unprecedented scrutiny on the costs and charges that wealth and
asset managers impose on their clients. In the initial phase of
MiFID2 Article 50, more than 1,300 firms informed the Financial
Conduct Authority of inaccuracies in their reporting.
Solvency II is also being enforced more aggressively in the wake
of recent fund liquidity concerns. Alongside this, standards of
completeness, quality and speed are also under scrutiny and
reporting requirements are continually evolving.
"At Broadridge, we are focused on providing asset managers with
innovative, data-centric solutions, and this new technology suite
with FundsLibrary is a natural fit with our existing regulatory
solutions capability," said Philip
Taliaferro, head of strategy, EMEA and Asia-Pacific, Broadridge. "Leveraging
FundsLibrary's Solvency II along with Broadridge's MiFID II Ex-Post
Costs and Charges solutions will help clients drive more efficient
and cost-effective processes in regulatory reporting."
"FundsLibrary's aim is to continuously broaden and improve data,
digital and regulatory services for the investment industry, either
through our own R&D or through working with world-leading
partners," said Arun Sarwal, CEO of
FundsLibrary. "We are very pleased to be working with Broadridge.
With its global expertise in delivering solutions to
their asset management clients worldwide and our
expertise, this will be an exciting partnership for both
parties."
Broadridge's European fund regulatory communications business
provides regulatory expertise and distribution support solutions to
over 70 clients worldwide.
FundsLibrary's existing Solvency II clients include 15 of
Europe's largest fund managers and
the service is recognised by industry consultants as a
best-in-class solution.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader and a part of
the S&P 500® Index, is a leading provider of investor
communications and technology-driven solutions to banks,
broker-dealers, asset and wealth managers and corporate issuers.
With over 50 years of experience, including more than 10 years as
an independent public company, Broadridge provides an important
infrastructure that powers the financial services
industry. Broadridge's infrastructure underpins proxy voting
services for over 50 percent of public companies and mutual funds
globally, and processes on average more than U.S. $7 trillion in fixed income and equity trades per
day of securities. Broadridge employs over 11,000 full-time
associates in 18 countries.
For more information about Broadridge, please
visit www.broadridge.com
About FundsLibrary
FundsLibrary is a leading digital platform supporting the life
cycle of fund data, documents and regulatory reporting for the
Asset Management industry. The company manages data for around
40,000 investment products, sourced from some 700 global fund
groups and supports over 180 million requests each year.
Recognised for the breadth and depth of their fund data and
document distribution, they have been delivering a wide range of
fund data, digital and regulatory solutions for over 15 years,
providing digital solutions to 10 of the top 20 UK investment
platforms and supporting the regulatory services of 15 of
Europe's largest fund
managers.
For further information please
visit www.fundslibrary.com.
Media Contacts:
Broadridge:
Georgie Gold
Cognito Europe
+44 (0)20 7426 9428
Georgie.gold@cognitomedia.com
FundsLibrary:
Caroline Abrahams
caroline.abrahams@fundslibrary.com
+44 117 313 4637