Access the latest news, analysis and trends impacting your business.
Explore our insights by topic:
Additional Broadridge resource:
View our Contact Us page for additional information.
Our representatives and specialists are ready with the solutions you need to advance your business.
Want to speak with a sales representative?
Table Heading | |
---|---|
+1 800 353 0103 | North America |
+442075513000 | EMEA |
+65 6438 1144 | APAC |
Your sales rep submission has been received. One of our sales representatives will contact you soon.
Want to speak with a sales representative?
Table Heading | |
---|---|
+1 800 353 0103 | North America |
+442075513000 | EMEA |
+65 6438 1144 | APAC |
NEW YORK, N.Y. – Nov. 26, 2018 – To help fund companies and broker-dealers effectively implement SEC Rule 30e-3, Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, announced an industry solution to drive down costs of fund report delivery.
SEC Rule 30e-3 will permit fund companies to mail notices of the internet availability of shareholder reports, instead of mailing complete reports. The SEC estimates potential cost savings of over $230 million annually on paper, printing and postage.
Under the terms of the new rule, funds can start to use the new delivery option on January 1, 2021, as long as they notify shareholders beginning on January 1, 2019. Fund companies and broker-dealers must also soon provide shareholders with a means through which to opt out of the notice delivery method.
Broadridge is providing a universal solution to capture and manage shareholder preferences during the two year notification period. On the behalf of its 1,100+ broker-dealer clients, Broadridge’s solution will provide a centralized website to help firms manage delivery preferences, which shareholders can access for all funds through unique identification numbers tied to their accounts. Launching on January 1, 2019, www.FundReports.com will also provide shareholders with an easy way to enroll in electronic delivery, thereby saving fund companies the costs of mailing the new notice.
“SEC Rule 30e-3 is a logical next step to reduce costs of paper, printing, and postage. Under the rule, fund companies and broker-dealers are also permitted to include key information from the reports along with the notice. This can make the notice more user-friendly, more informative, and more engaging – thus leading to more e-delivery. Enhancing the notice also provides a better branding experience for funds and brokers,” said Michael Liberatore, head of Broadridge’s Mutual Funds and Retirement Solutions business. “It can be a ‘win win’ for shareholders and the industry alike.”
“Broadridge is actively working with funds and broker-dealers to ensure readiness, and our role at the center of the industry is enabling a very efficient and consistent approach for firms implementing the notice delivery method,” added Liberatore.
Industry participants interested in finding out more about the 30e-3 Rule can join the following upcoming webinars.
About Broadridge
Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
For more information about us, please visit www.broadridge.com.
To contact media relations, please email us at mediarelations@broadridge.com.