NEW YORK, New York -- September 10, 2007 -- Broadridge Financial Solutions, Inc. (NYSE: BR) today announced an extension of their agreement with NewRiver, Inc. to provide a database of disclosure documents to assist Broadridge in electronic delivery of regulatory documents to investors.
For the past five years, Broadridge has worked with NewRiver and a select number of Broadridge clients for e-delivery of confirming and first-dollar prospectuses. "E-delivery provides another option for investors to receive disclosure documents timely and in a form more appropriate to their needs. We are excited about continuing to expand this offering to our entire client base," says Gerard Scavelli, President, Information Distribution Solutions, Broadridge.
Broadridge provides confirming and first-dollar in services for over 150 financial institutions. Over the last year, Broadridge has delivered more than 57 million prospectuses in both electronic and traditional forms in a very efficient and cost effective manner.
NewRiver sources 23,000 disclosure documents directly and daily from EDGAR, the SEC's mutual fund database. As a result, Broadridge can deliver compliant documents faster and more efficiently for its clients, while their clients can provide greater convenience and better protection downstream for investors with information that's timely and accurate.
Regulators and financial firms have begun to embrace the potential advantages of electronic disclosure as the industry moves toward compliance reform and simplified investor disclosure communication. "Broadridge's large client base and NewRiver's innovative technology give the industry a fast track to provide investors a choice of e-delivery," says Russell Planitzer, NewRiver Chairman and Chief Executive Officer. "Offering customers a preference in how they receive up-to-date compliance information provides a more compelling industry solution."
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 www.broadridge.com.