NEW YORK and LONDON, March 25,
2021 /PRNewswire/ -- Despite its new obligations for
financial intermediaries taking effect in September 2020, the European Commission's updated
Shareholder Rights Directive (SRD II) is still very much in the
early stages of a full and seamless adoption across European
regulated markets, according to a new report by global Fintech
leader Broadridge Financial Solutions, Inc. (NYSE: BR).
Today Broadridge launches its latest industry whitepaper on SRD
II. The report extracts learnings from over 350 SRD II client
implementations, which should serve as a valuable resource for
firms that have yet to implement their SRD II solution, as well as
those who met the deadline but continue to refine their
processes.
"The implementation of SRD II compliance procedures has created
a number of challenges on affected intermediaries, especially those
providing voting-related services for the first time," said Demi
Derem, General Manager, International Bank Broker-Dealer
Communication Solutions at Broadridge. "Having worked with clients
based within and outside of Europe, including both retail- and
institutional-focused firms, spanning multiple tier-one banks,
brokers and wealth managers, this report will serve as a useful
reference and navigation guide".
SRD II is a key part of the Capital Markets Union agenda and, as
such, it remains a high-profile, mandatory requirement subject to
deep scrutiny over the coming years, including a formal review of
the directive's effectiveness by the European Commission.
"The risks and penalties are wide-ranging and can be severe for
firms, which are yet to be fully compliant," Derem added. "Firms
seeking external support should consider their options carefully.
They should pay particular attention to companies that can offer
the requisite knowledge and experience of navigating the
shareholder communications landscape, and can provide the necessary
economies of scale, digital data security and complete market
coverage".
ABOUT BROADRIDGE
Broadridge Financial Solutions
(NYSE: BR), a global Fintech leader with over $4.5 billion in revenues, provides the critical
infrastructure that powers investing, corporate governance and
communications to enable better financial lives. We deliver
technology-driven solutions to banks, broker-dealers, asset and
wealth managers and public companies. Broadridge's infrastructure
serves as a global communications hub enabling corporate governance
by linking thousands of public companies and mutual funds to tens
of millions of individual and institutional investors around the
world. In addition, Broadridge's technology and operations
platforms underpin the daily trading of on average more than U.S.
$10 trillion of equities, fixed
income and other securities globally. A certified Great Place to
Work®, Broadridge is a part of the S&P
500® Index, employing over 12,000 associates in 17
countries. For more information about us and what we can do for
you, please visit www.broadridge.com
Media contact:
Sophie Hamilton
E: sophie.hamilton@cognitomedia.com
M: +44 (0) 7943 050820
View original content to download
multimedia:http://www.prnewswire.com/news-releases/global-impact-of-srd-ii-and-lessons-learned-highlighted-in-new-whitepaper-from-broadridge-301255331.html
SOURCE Broadridge Financial Solutions, Inc.