NEW YORK, New York -- July 10, 2007 -- Broadridge Financial Solutions, Inc., a leading global provider of technology-based outsourcing solutions to financial services firms and public companies, announced that its Investor Communication Solutions business distributed nearly 1 million Material Availability Notices to shareholders during the first week that the U.S. Securities and Exchange Commission's amendments to the proxy rules were in effect (the "Notice and Access Rule").
The Notice and Access Rule removes the requirement for public companies to automatically send shareholders a full, hard-copy set of annual meeting and proxy materials by allowing them instead to deliver to their shareholders a Notice of Internet Availability of Proxy Materials, and to provide online access to the documents. Companies choosing the option to use this new notice and access delivery model must give shareholders an ability to request a paper copy of the posted materials.
Broadridge has held a series of meetings and online seminars for publicly held corporations, banks, brokers and the mutual fund community to help them plan and execute an implementation strategy that complies with the Notice and Access Rule and helps them take advantage of print and postage savings. "Our collaborative approach has resulted in the development of a financial modeling tool that allows corporate issuers and mutual funds to make informed decisions about whether to fully adopt the notice and access delivery model, use a traditional distribution model, or even a combined approach that blends Material Availability Notice mailings with complete hard-copy packages," said Bob Schifellite, President of the Investor Communication Solutions business of Broadridge.
Converting documents to HTML format, document web hosting, e-delivery, warehousing, fulfillment, mail, voting and tabulation, and delivery preference management services are all part of Broadridge's integrated set of investor communication solutions. Broadridge's deep expertise and its ability to provide a consultative approach for clients in instances such as the implementation of the Notice and Access Rule is a unique value that has helped define Broadridge's leadership position in the investor communications industry. "We're well positioned to support public companies, funds, and bank and brokerage firms with our innovative product offerings. Our unique business model helps clients navigate the changing regulatory landscape and advancements in technology so they can focus more on their core business," said Mr. Schifellite.
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 16 countries.
For more information about Broadridge, please visit www.broadridge.com.