Danish BEC selects Broadridge for SRD II 08 December 2020Denmark Reporter: Natalie Turner
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Broadridge Financial Solutions has been selected by BEC, a Danish technology firm, to provide its comprehensive solution for the updated Shareholder Rights Directive (SRD II).
SRD II, which went live on 3 September, is global in its scope, insofar as it impacts any financial intermediary that holds or services European equities, irrespective of where the firm is located.
It applies to all types of financial intermediaries, including banks and brokers, wealth managers and central securities depositories.
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. Broadridge has also helped BEC streamline client communication and disclosure requests.
Kim Bastholm, development director at BEC, says: “As a full-service financial services technology provider, we recognised Broadridge’s deep subject matter expertise in SRD and its proactive role in helping the market respond to regulatory compliance challenges and regional complexities.”
Demi Derem, general manager of Broadridge’s international investor communication solutions, adds: “We are excited to further deepen our relationship with BEC, another leading financial services technology company.
“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.”
Elsewhere, Broadridge also provided Smith & Williamson Group, a financial and professional services firm in the UK and Ireland, with its SRD II solution for proxy voting.
Smith & Williamson will use the Broadridge solution to support its discretionary and non-discretionary execution clients, spanning both institutional and retail investors.
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