BEC Moves to Full Shareholder Rights Directive II Readiness with Broadridge’s Industry Leading Solution
- Asset Management
- 08.12.2020 02:14 pm
Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, has announced that it has been selected by BEC, a Danish full-service technology firm that develops and operates IT systems for financial institutions, to provide its comprehensive solution for the updated Shareholder Rights Directive (SRD II).
BEC is now live with Broadridge’s end-to-end solution suite for SRD II covering global proxy management for retail shareholders, and also shareholder disclosure. The firm is using the solution to support the regulatory needs across its network of 26 banks in Denmark.
“After assessing viable solutions in the market, we determined that the Broadridge SRD II suite of solutions would best support our customers,” said Kim Bastholm, development director at BEC. “As a full-service financial services technology provider, we recognized Broadridge’s deep subject matter expertise in the Shareholder Rights Directive and its proactive role in helping the market respond to regulatory compliance challenges and regional complexities.”
The retail-focused solution provided by Broadridge has helped BEC to roll out SRD II compliance services across its network of banks, streamlining client communication and disclosure requests.
“We are excited to further deepen our relationship with BEC, another leading financial services technology company,” said Demi Derem, general manager of Broadridge’s International Investor Communication Solutions. “BEC has an impressive network of underlying clients with a proven track record around innovation. Working together, we have enabled its network of clients to be ready quickly and efficiently for this mandatory change.”
SRD II significantly impacts shareholder communications for all intermediaries holding or servicing European equities all around the world. The regulation aims to increase the accuracy and transparency of communications between EU issuers and investors – facilitating more active shareholder engagement.