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Lake Success, NY – October 16, 2008 – Broadridge Financial Solutions, Inc. (NYSE: BR) announced today that it has contributed the first open-source format for interactive proxy statements to XBRL US, Inc. The architecture explicitly supports the reporting requirements of the U.S. Securities and Exchange Commission (SEC) proxy statement form (DEF14A). The proxy statement taxonomies are intended to capture a broad range of basic facts contained in a proxy statement filing. In addition to the SEC form’s disclosure requirements, a range of common industry practice concepts are also supported.
Broadridge has previously stated its intent to place the proxy statement taxonomies in the public domain to facilitate further development and to obtain industry and regulatory acceptance. Having contracted with the SEC to develop interactive data taxonomies and related materials, XBRL US, Inc. is the entity that could best accomplish this task.
Broadridge is committed to finding the best solutions to support transparent and efficient corporate governance and shareholder communication activities and views interactive data as the next logical step in this process. “We are excited and proud of our ability to contribute to the future of business reporting and SEC disclosure in this way, and we look forward to attracting industry participants to improve upon the proxy taxonomy foundation that we created,” said Robert Schifellite, President, Investor Communication Solutions, Broadridge.
“Proxy statement data in XBRL format will give investors better and more timely insights into the corporate accountability of public companies”, said Campbell Pryde, Chief Standards Officer, XBRL US, “Broadridge’s contribution and their ongoing involvement in taxonomy development will ensure the highest quality data.”
About XBRL US
XBRL US is the non-profit consortium for XML business reporting standards in the United States and is a jurisdiction of XBRL International. It represents the business information supply chain, including accounting firms, software companies, financial databases, financial printers and government agencies. Its mission is to support the implementation of XML business reporting standards through the development of taxonomies relevant for use by US public and private sectors, working with a goal of interoperability between sectors, and by promoting adoption of these taxonomies through the collaboration of all business reporting supply chain participants. XBRL US has developed taxonomies to support U.S. GAAP and common reporting practices under a contract with the Securities and Exchange Commission. The XBRL US GAAP Taxonomies are available for review at http://xbrl.us/pages/us-gaap.aspx.
To contact media relations, please email us at mediarelations@broadridge.com.
