LONDON, July 17, 2012 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR) today announced the publication of an industry white paper that explores UK market views on the specific requirements set out in Chapter 5 ( Investing in authorised funds through nominees) of the Retail Distribution Review (RDR). These rules relate to those organisations responsible for the provision of nominee services to retail investors investing in authorised funds, and demand the timely distribution of certain mutual fund information and notification of voting events to all underlying investors.
"This white paper presents the many concerns of firms that are faced with implementing mechanisms in order to be compliant with the upcoming rules," said Bruce Babcock, President, Investor Communication Solutions International, Broadridge. "Its findings reveal that firms need to focus on methods of electronic communication and evaluate other ways to minimise costs, such as considering streamlining operational functions and making use of outsource partners. It is also important that they look to execute best voting practices and ensure that business decisions made today reflect the possible direction of future legislation."
The Broadridge white paper, " RDR Intermediate Unitholder Obligations - The Developing Landscape for Nominees and Retail Investors," has been produced in association with UK specialist benchmarking and research organisation, ComPeer Ltd. The publication is based on industry research and interviews with a range of market participants including wealth managers (execution only, discretionary and advisory firms) and platform providers. The paper offers a detailed insight into the potential impact this new legislation may have on those holding nominee accounts – banks, brokers, mutual fund holders and fund platforms – and delivers a comprehensive overview of the challenges and concerns that firms may face and the compliance strategies they are managing.The FSA-inspired policy aims to supply investors who access authorised funds through a nominee with the same information as those holding units in funds directly. Specifically, these mutual fund nominees (or intermediate unitholders) will have to make available information that informs the individual investor about their investments, such as short reports. In addition, a firm must send notifications of voting events, along with a summary of the events' subject matter and possible consequences of the voting outcome.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV