Broadridge announces completion of acquisition of FundsLibrary

Maria Nikolova

The deal is set to accelerate Broadridge’s pan-European regulatory communications and digital data platform.

Fintech expert Broadridge Financial Solutions, Inc. (NYSE:BR) today announces that it has completed its acquisition of FundsLibrary, a provider of fund document and data dissemination services in the European market. The deal is set to accelerate Broadridge’s pan-European regulatory communications and digital data platform, supporting the lifecycle of fund data, documents, and regulatory reporting for the investment industry.

The business will be combined with Broadridge’s existing European funds regulatory communications business FundAssist. The combination of FundsLibrary’s data platform and technology with Broadridge’s existing fund calculation, document creation and translation capabilities, creates an end-to-end solution for fund managers and distributors, enabling them to respond to demanding regulatory requirements across multiple jurisdictions.

The combined business will be known as Broadridge Fund Communication Solutions. It will be led by Arun Sarwal, former CEO of FundsLibrary. Mr Sarwal has extensive financial services industry and technology business leadership experience. He previously held roles as Senior Vice President of SS&C Technologies, CEO of DST Investment Management Solutions, COO at Scottish Widows Investment Partnership (SWIP), SVP within ABN AMRO’s Private Clients & Asset Management business and was one of the founders of Kurtosys Systems.

FundsLibrary’s solutions enable fund managers to expand distribution opportunities and help them comply with regulations such as Solvency II and MiFID II.

Broadridge Fund Communication Solutions provides a comprehensive digital platform, supporting the lifecycle of fund data, documents and regulatory reporting for the global investment industry. The company manages and distributes data for some 700 global fund groups and supports over 200 million fund data requests each year.

Read this next

Crypto Insider

Gate.io lists DeFiChain’s DFI token amid growing popularity

Bitcoin-based DeFi platform DeFiChain announced the listing of its native DFI token on Gate.io, one of the world’s leading cryptocurrency exchanges.

Digital Assets

Binance in discussions with Japan regulators to relaunch operations

Binance, the world’s largest crypto exchange by traded volume, is reportedly seeking a license to operate in Japan after its exit from the country four years ago.

Digital Assets

OKX Chain integrates .crypto domains to simplify wallet transactions

Unstoppable Domains, a company building Blockchain domain names, has entered a partnership with EVM and IBC compatible chain OKC (OKX Chain). This collaboration will grant OKC’s users the ability to simplify deposits and withdrawals within the regulated fiat-focused crypto-asset exchange.

Retail FX, Technology

MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms

In a surprising (or-not-so-surprising) move, Apple has removed MetaTrader 4 and MetaTrader 5 from its App Store in a huge blow for the leading FX trading platform provider.

Retail FX

Pepperstone adds Capitalise.ai analytics and automated trading tools free of charge

“We look forward to bringing significant value to Pepperstone traders and making a real, positive impact in their daily trading habits. We are excited to welcome them on board.”

Retail FX

FP Markets wins Best Global Value Broker for 4th consecutive year at the 2022 Global Forex Awards

“We greatly appreciate the continued international recognition as at FP Markets we pride ourselves on these attributes and these prestigious awards are testament to the hard work from our global team to always provide our clients with the ultimate trading experience.”

Inside View

How to Engage Your Customer at Every Stage of Their Journey

As many as 89% of successful businesses say that providing assistive customer experiences is critical to their growth. That’s because a mere 5% increase in customer retention can boost profits by 25% to 95%.

Industry News

CFTC fines Chinese firms Chinatex and COFCO $720,000 for wash trading

Chinatex traders engaged in wash trading in order to liquidate a long position in the account of an affiliated company and re-establish the position in its own account, to the ultimate benefit of its parent company, COFCO.

Industry News

US-based operation of Brazilian broker XP fined $500,000 for recordkeeping failures

“Proper recordkeeping is vital to protecting our markets and market participants from fraud and manipulation. This case serves as another example of the Commission’s intent to vigorously enforce the recordkeeping obligations of its registrants.”

<