Broadridge has been selected by BEC, a Danish full-service technology firm that develops and operates IT systems for financial institutions, to provide its solution for the updated Shareholder Rights Directive (SRD II).
Global in its scope, SRD II, which went live on 3 September, impacts any financial intermediary that holds or services European equities, irrespective of where the firm is located.
It applies to all types of financial intermediaries, including banks and brokers, wealth managers and central securities depositories (CSDs).
The regulation aims to increase the accuracy and transparency of communications between EU issuers and investors – facilitating more active shareholder engagement.
BEC is now live with Broadridge’s end-to-end solution suite for SRD II covering global proxy management for retail shareholders, and also shareholder disclosure.
The firm is using the solution to support the regulatory needs across its network of 26 banks in Denmark.
The retail-focused solution provided by Broadridge has helped BEC to roll out SRD II compliance services across its network of banks, streamlining client communication and disclosure requests.
“BEC has an impressive network of underlying clients with a proven track record around innovation. Working together, we have enabled its network of clients to be ready quickly and efficiently for this mandatory change,” said Demi Derem, general manager of Broadridge’s international investor communication solutions.
“After assessing viable solutions in the market, we determined that the Broadridge SRD II suite of solutions would best support our customers,” commented Kim Bastholm, development director at BEC.
Bastholm continued: “As a full-service financial services technology provider, we recognised Broadridge’s deep subject matter expertise in the SRD and its proactive role in helping the market respond to regulatory compliance challenges and regional complexities.”
In September, Smith & Williamson Group, a financial and professional services firm in the UK and Ireland,selected Broadridge’s SRD II solution.
