In response to new regulatory obligations under the updated Shareholder Rights Directive (SRD II), Caceis Bank, Germany Branch has selected Broadridge Financial Solutions,to provide it with a full suite of advanced solutions. Caceis is running live on Broadridge’s SRD II solutions, enabling it to address the Directive’s requirements for increased governance and transparency through a strategic, end-to-end process for voting and disclosure across all in-scope European markets.
Caceis is using Broadridge’s enhanced Global Proxy Voting platform for its German domestic and cross-border custody operations, benefitting from high levels of straight through processing efficiency throughout the voting lifecycle for its broad network of bank and broker intermediaries as well as for their direct retail and institutional investor clients. The bank is also using Broadridge’s new Shareholder Disclosure Hub, both in Germany and more widely across the Caceis Group, enabling it to meet issuer requests for shareholder details within the tight deadlines mandated by the Directive.
Demi Derem, general manager for International Investor Communications at Broadridge, said in a statement: “SRD II is global in its scope, impacting any financial intermediary that holds or services European equities. Many firms like Caceis, including banks, brokers and wealth managers, are required to provide voting and disclosure services for the first time, and it is important that they meet their new obligations.”
Broadridge’s enhanced Global Proxy solution utilises a white labelled retail voting platform, ProxyVote, as well as its multi-custodial institutional voting platform, ProxyEdge. It enables same-day event capture and distribution, same-day proxy vote processing and vote confirmations, advanced multi-channel retail functionality and European client data storage.
Its new Shareholder Disclosure Hub, an industry-wide digital solution, uses the latest API- and blockchain-based technologies to address SRD II’s new shareholder disclosure requirements and provide class-leading data security.