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Press Release

Broadridge Unveils Fund and Broker-Dealer Solution for SEC Rule 30e-3

Industry-wide solution will help firms get an early start on cost savings

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, 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.

  • On November 26, 2018 at 12pm EST, Broadridge will host a special briefing on its Rule 30e-3 solution for funds and broker-dealers. To participate or watch on demand after the event, visit this site to register.

  • On November 28, 2018 at 2pm EST, a Broadridge expert will be among the speakers in a NICSA webinar on key aspects and required action items related to the 30e-3 ruling. Details and registration can be accessed via this link.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other 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.

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