Broadridge Helps Corporate Issuers Increase Efficiencies in First Months
Following New Canadian Notice and Access Rules
TORONTO, Oct. 8, 2013 /CNW/ - Broadridge Financial Solutions, Inc. (NYSE: BR) today reported that during the 2013 proxy season, the first
season following approval of the new Notice and Access initiative by
Canadian securities regulators, more than 160 eligible Canadian
corporate issuers have adopted the new process permitting them to mail
a notice providing electronic access to proxy-related information on
public companies' websites in lieu of the traditional mailing to all
Broadridge clients that adopted Notice and Access not only reduced
postage and printing costs but also had the option to enrich
shareholder engagement by providing online access to proxy-related
information and electronic voting. Broadridge reported that 84% of all
shares voted were cast electronically, validating the importance of the
digital communication channel. On average, companies that adopted
Notice and Access this past year maintained, or slightly increased,
voting participation rates for retail and institutional shareholders.
"Digital communications is an increasingly important channel for our
corporate issuer clients," said Donna Bristow, Vice President, Client
Management and Strategic Product Development, Investor Communication
Solutions, Canada, Broadridge.
"Broadridge's priority is to help our clients achieve higher levels of
transparency, efficiency, and shareholder engagement. The introduction
of the new Notice and Access solution is aligned with these goals, and
we are uniquely positioned to support corporate issuers that want to
take advantage of the option," continued Bristow.
Broadridge conducted road shows and created a dedicated website, NoticeandAccess.ca, to better educate corporate issuers on their choice to use Notice and
Access. As part of its continued support for corporate issuers in
determining whether Notice and Access is right for them, Broadridge
will conduct road shows in early November in Vancouver, Calgary and
Toronto, and recently introduced a unique savings calculator for
corporate issuers to use to determine estimated savings. Ms. Bristow
added, "Our unique business model allows us to help clients navigate
through regulatory changes such as Notice and Access in a way that
enables them to enhance the investor choice model, and recognize
savings while remaining focused on their core businesses."
The National Instrument 54-101 and National Instrument 51-102 amendments
took effect on February 11, 2013, and were applied to shareholder
meetings held on or after March 1, 2013. The Notice and Access model
removes the requirement for public companies to send shareholders a
hard copy set of proxy materials. Eligible corporate issuers may
instead deliver to shareholders a mailed "Notice," and provide online
access to the documents. Companies choosing the option to use the
Notice and Access delivery model must give shareholders an ability to
request a paper copy of the posted materials.
Download the 2013 Canadian proxy season report.
Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading provider
of investor communications and technology-driven solutions for
broker-dealers, banks, mutual funds and corporate issuers globally.
Broadridge's investor communications, securities processing and
business process outsourcing solutions help clients reduce their
capital investments in operations infrastructure, allowing them to
increase their focus on core business activities. With over 50 years
of experience, Broadridge's infrastructure underpins proxy voting
services for over 90% of public companies and mutual funds in North
America, and processes more than $5 trillion in fixed income and equity
trades per day. Broadridge employs approximately 6,400 full-time
associates in 13 countries. For more information about Broadridge,
please visit broadridge.com.
For more information about Broadridge and Notice and Access, please
For further information:
Kelly M. Howard