Press Releases

Broadridge and CTI Form Strategic Alliance to Provide Advanced Tax Reporting and Compliance Solutions

LAKE SUCCESS, New York & ANDOVER, Massachusetts - July 18, 2011 -- Broadridge Financial Solutions, Inc. (NYSE:BR) and Compliance Technologies International, LLP (CTI) jointly announce that they have entered into a partnership that integrates Broadridge’s Tax Managed Services (TMS) with CTI’s Tax Withholding software. This alliance offers broker-dealers comprehensive tax reporting and compliance capabilities designed to meet the increasingly complex tax processing and withholding needs of financial services firms.

Through the alliance, Broadridge will expand its end-to-end tax outsourcing solution to include NRA (non-resident alien) reporting, withholding, document tracking and compliance tools. This enhanced functionality supported by CTI promotes compliance with the Foreign Account Tax Compliance Act (FATCA) and aims to consolidate and streamline a number of labor-intensive back-office functions related to Foreign Financial Intermediaries (FFIs) and complex NRA withholding requirements.

“Just as firms are working through the initial phases of cost-basis regulation, they will then be hit with yet another round of new regulatory requirements relating to FATCA legislation,” said Geoff de Lesseps, Senior Vice President, Investor Communication Solutions, Broadridge. “Broadridge and CTI plan to be there to help lessen the burden of FATCA, which will be just as monumental a change in requirements as in cost-basis reporting, but is currently flying under the radar as a result of firms being inundated with meeting current regulatory requirements.”

“Broadridge and CTI have developed industry standard solutions that define the tax reporting and compliance field,” said Cyrus Daftary, Executive Director and co-founder of CTI. “Given the increasing compliance demands in the tax information withholding and reporting area, coupled with FATCA requirements, the synergies created by our relationship will be very beneficial to firms. Through the alliance, firms will benefit from the confidence in partnering with two proven industry leaders.”

In 2010, Broadridge announced a strategic alliance with Convey Compliance Systems to provide broker-dealers with real-time tax reporting via a more flexible, customizable platform through Tax Managed Services. The addition of CTI’s intermediary processing and tax-withholding software complements an already powerful combination of tax data, processing, cost-basis and investor communications tools available in TMS, the latest offering in Broadridge’s suite of Tax Information Reporting Services (TIRS). TMS can be used across any back-office platform, front-end system and technology. Broadridge has offered tax reporting solutions to the brokerage industry for more than 25 years.


About Broadridge

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 14 countries.

For more information about Broadridge, please visit

About CTI

CTI's software and services have been used in multi-national corporations and eight of the ten largest financial institutions in the world since 1998. CTI has a strong team of highly specialized and experienced international and domestic tax and software professionals, including lawyers, accountants, software engineers and operations experts. CTI's team is a leader in cutting-edge global tax technology; consulting and outsourcing services specializing in information return reporting and tax withholding. Years of practice have contributed to CTI's long standing and solid relationships with worldwide financial institutions, multi-national corporations, tax authorities and governments. For more information,

About Convey

Convey Compliance Systems reduces both the costs and risks associated with handling 1099 reporting at the federal and state level. Clients depend on Convey’s innovation and expertise to assure tax compliance while handling the complexities of reporting and filing tax documents on behalf of customers, vendors and investors. Convey’s solutions combine over 20 years of expertise in 1099 reporting with configurable on-demand software and operational services, all designed to reduce costs, increase efficiency and mitigate risk.

Founded in 1986, Convey serves clients ranging from small businesses processing hundreds of forms to Fortune 500 companies. For more information, visit

Media Contacts:

Ed Orgon

The Torrenzano Group

+1 212 681 1700


Matthew Hickerson

Broadridge Financial Solutions, Inc

+ 1 212-918-6982


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