Institutional Shareholder Services (ISS) has launched a global proxy distribution (GPD) shareholder identification service to help custodians and intermediaries meet requirements under the second EU Shareholder Rights Directive (SRD II).
The directive, due to come into effect on 3 September, will authorise EU companies to request the identification of their shareholders on record with each intermediary.
As part of ISS’ suite of SRD II solutions, the new GPD service administers an outsourced solution to respond to any request on behalf of intermediary clients, by sending automated responses to the issuer in a complaint message format.
Rudi Kuntz, head of GPD at ISS, explained: “ISS brings its market-leading understanding of the complex practicalities of EU regulatory requirements and specialist local market governance knowledge to its suite of solutions for custodians and intermediaries.”
“Intermediaries can outsource to ISS with confidence that our expertise and commitment will deliver high-quality offerings and service to the market.”
Lorraine Kelly, head of governance solutions at ISS, added: “ISS continues to innovate and invest in solutions and services throughout the value chain for the benefit of custodians and intermediaries, as well as our institutional investor clients broadly.”
