Proxymity has launched a shareholder disclosure solution in all EU markets ahead of today’s implementation date for the second Shareholder Rights Directive (SRD II).
As the first new product launched by the digital investor communications platform since it raised $20.5 million from several large financial institutions earlier this year, the Proxymity ID solution will take immediate effect and has already signed on State Street and Citi as customers.
The solution is designed to facilitate end-to-end compliance with SRD II for central securities depositories, brokers, custodians, and other intermediaries.
SRD II aims to encourage shareholder engagement, increasing transparency and improving corporate governance.
Proximity ID enables all participants in the custody chain to automatically verify and forward any shareholder disclosure requests in a compliant digital format and respond instantly.
Dean Little, co-founder and CEO of Proxymity, explained: ““We are confident that Proxymity ID will make it easier and more cost-effective for custodians and intermediaries to manage the new burdens imposed by SRD II.”
“With Proxymity’s enhanced technology and digital onboarding experience, intermediaries can sign up and start using Proxymity ID within 24 hours and immediately comply with the SRD II legislation. We expect this to be an incredible value add as financial institutions navigate this new legislation,” he added.
