Broadridge acquires Jordan & Jordan assets: Compliance for US broker-dealers

Rick Steves

Broadridge’s new offering also enables clients to monitor the effectiveness of their required policies and procedures and provide detailed records to demonstrate a commitment to ongoing surveillance.

Luis Urquiza's market snapshot What are the hot assets for 2016

Broadridge Financial Solutions has acquired the cloud-based Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan.

The deal will further enhance the firm’s surveillance and regulatory reporting as well as compliance consulting capabilities for broker-dealers in the United States.

Vijay Mayadas, President of Capital Markets at Broadridge, said: “We are committed to helping broker-dealers simplify the process of complying with an ever-changing set of regulatory requirements. This tuck-in acquisition provides a natural extension of our reporting and compliance capabilities for pre and post execution activities for the US market and underlines Broadridge’s commitment to expanding our capital markets offerings to clients.”

The solution allows broker-dealers to more effectively comply with regulations such as SEC Rules 605/606 and Consolidated Audit Trail (CAT) and strengthens their capabilities around best execution, trade surveillance and the detection of fraud-based manipulative activity.

Broadridge’s new offering also enables clients to monitor the effectiveness of their required policies and procedures and provide detailed records to demonstrate a commitment to ongoing surveillance.

Tom Jordan, President & CEO of Jordan & Jordan, commented: “We are proud that our innovative solution is being used by an increasing number of firms to assist in meeting their compliance obligations. The acquisition by Broadridge, a leader in the capital markets industry with significant size and scale, will further accelerate its capability to meet the increasing demand from clients.”

Broadridge has been very active in acquiring firms and assets as of late. The company has most recently bought AdvisorStream to enhance engagement and marketing solutions as the events of 2020 have transformed the nature of advisor and client collaboration and communications

Its most high-profile deal was the acquisition of Itiviti for $2.5 billion. Itiviti will now be part of Broadridge’s Global Technology and Operations segment. Its senior management team, including its CEO, will continue to remain in the company to help drive the future expansion and growth of the company.

Broadridge has recently enhanced its Private Market Hub with blockchain technology from AWS. The many challenges faced by private market participants, such as disconnected communication and back-office reconciliation, were solved by the newest version of the platform using distributed ledger.

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