Broadridge Financial Solutions, the global fintech firm, has expanded its shareholder disclosure solution to meet the specific regulatory requirements in the UK, Australia and Hong Kong markets.
The Broadridge disclosure solution leverages next-gen blockchain technology and intelligent APIs to support client workflow and connectivity needs. Broadridge’s Shareholder Disclosure solution is now able to support firms needing to adhere to differing regulations in the UK, Australia and Hong Kong.
The solution also enables firms to process their disclosure requests through one centralised platform.
In June 2017, the European Council adopted the new Shareholder Rights Directive (SRD II), an amendment made to SRD, aiming to encourage shareholder engagement by listed companies and increase transparency.
Across Europe, Broadridge has obtained a proven track record for increasing transparency and automation through the digitisation of shareholder disclosures, supporting market intermediaries – banks, brokers, wealth managers and central securities depositories (CSDs) – that are obliged to respond to disclosure requests from issuers under SRD II.
Demi Derem, general manager of international corporate governance, digital transformation and market innovation at Broadridge, explained: “Financial intermediary shareholder disclosure obligations are not unique to European SRD markets.
“Our latest service expansion allows financial intermediaries to meet their shareholder disclosure obligations in the UK, Australia and Hong Kong. The investments made to build out our industry-leading shareholder disclosure solution underlines our commitment to drive market-wide increased governance and transparency.”
The UK, Australia and Hong Kong have specific disclosure requirements: UK Section 793 (Companies Act 2006), Australia Section 672 (Corporations Act 2001) and Hong Kong Section 329 (Securities and Futures Ordinance).