Broadridge teams up with SLIB to deliver SRD II solution for French market
Fintech major Broadridge Financial Solutions, Inc. (NYSE:BR) today announced its collaboration with France-based SLIB, a software vendor of electronic voting and security services, to offer a joint, cross-border proxy voting solution for Shareholder Rights Directive II (SRD II) compliance, covering European shareholder meetings.
Designed specifically for French intermediaries, including the retail sector, the fully automated, end-to-end solution will leverage Broadridge’s industry-leading Global Proxy solution and includes an STP connection to SLIB’s Votaccess, an electronic voting platform in France, which manages in excess of 80% of CAC 40 companies’ General Meetings.
This Broadridge-SLIB alliance will enable the distribution of meeting agendas for European shareholder meetings, as well as process and count votes from French shareholders in a seamless service, unique to the French market.
The Broadridge and SLIB solution will for the first time allow French retail intermediaries to offer proactive proxy voting services to shareholders where they can be notified of shareholder meetings for European companies and exercise voting rights seamlessly. The solution is fully integrated into client workflows and will be available ahead of the 2021 proxy season, the first proxy season where SRD II compliance is compulsory.
SRD II went live on September 4, 2020 and is global in its scope, impacting any financial intermediary that holds or services European equities, irrespective of where the intermediary firm is located. It applies to all types of financial intermediaries, including banks and brokers, wealth managers and central securities depositaries (CSDs).
Broadridge has seen strong international demand for its multi-segment SRD II solution and has already carried out over 100 live client implementations, with a further 100 now underway.