NEW
YORK, March 1, 2023 /PRNewswire/ -- To better
help companies comply with the SEC's Tailored Shareholder Reports
rule, global Fintech leader, Broadridge Financial Solutions,
Inc. (NYSE: BR), has developed a new, technology-enabled template
and end-to-end process solution for fund companies and fund
administrators. This new digital template greatly simplifies the
steps involved in creating and providing the SEC's new Tailored
Shareholder Reports.
"The digital template we've created is good for fund investors
and compliant with the rules and is just one part of the end-to-end
solution which provides the scale and automation companies are
seeking," said Michael Tae,
Broadridge President of Mutual Fund and Retirement Solutions. "Our
end-to-end solution for funds and fund administrators offers iXBRL
tagging, SEC-compliant layered web hosting, and comprehensive SEC
filings, along with a personalized communication experience for
fund investors that efficiently combines and delivers Tailored
Reports just for the funds and share classes they hold within their
accounts. Our solution will drive added savings on paper and
postage for companies and new savings, as well, by encouraging more
investors to receive all of their fund information
electronically.
The technology-backed template, with its report composition
component, will automate a multi-step process, resulting in new
efficiencies for complying with the SEC rule. The rule requires
mutual funds and ETFs to provide concise, user-friendly reports to
investors beginning July 24, 2024 for
each share class of every fund. For fund companies, with large
numbers of funds and share classes, this involves creating
thousands of individual reports.
Driving Digitization and Enabling Automation
Broadridge is working with fund companies and fund
administrators to employ digitization, automation and operational
process improvements that produce better investor communications in
the most cost-effective way possible. Within each fund firm many
groups are involved in the process, from the Treasurer's office, to
operations, legal, marketing, and venders making automation
essential.
The topics and sequence that the SEC requires for these reports
were identified, but a sample format was not provided. To help
industry executives, Broadridge created a template that allows for
digital inputs and is concise, engaging and visually clear while
meeting the SEC requirements.
To see the template:
https://www.broadridge.com/_assets/pdf/broadridge-sample-tailored-shareholder-report.pdf.
Broadridge has also created an FAQs on Tailor Shareholder
Reports to address many of the questions industry executives have
raised in industry forums regarding the new rules.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with more than $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 that drive
business transformation for 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. Our technology and
operations platforms underpin the daily trading of more than U.S.
$9 trillion of equities, fixed income
and other securities globally. A certified Great Place to
Work®, Broadridge is part of the S&P
500® Index, employing over 14,000 associates in 21
countries.
For more information about us and what we can do for you, please
visit www.broadridge.com.
Media Contact:
Tatjana
Kulkarni
+1 203-285-0766
Tatjana.kulkarni@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.