Broadridge announces template for SEC’s new Tailored Shareholder Reports

Rick Steves

“The digital template we’ve created is good for fund investors and compliant with the rules and is just one part of the end-to-end solution which provides the scale and automation companies are seeking.”

Broadridge has announced the launch of a template and end-to-end process solution for fund companies and fund administrators that simplifies the steps involved in creating and providing the SEC’s new Tailored Shareholder Reports.

The template’s report composition component automates a multi-step process, resulting in new efficiencies for complying with the SEC rule, the fintech firm stated.

The SEC’s new rule for Tailored Shareholder Reports requires mutual funds and ETFs to provide concise, user-friendly reports to investors beginning July 24, 2024 for each share class of every fund.

For fund companies, with large numbers of funds and share classes, this involves creating thousands of individual reports.

SEC didn’t provide sample format for new reporting rule

Broadridge is helping fund companies and fund administrators to employ digitization, automation, and operational process improvements that produce better investor communications.

According to the firm, the topics and sequence that the SEC requires for these reports were identified, but a sample format was not provided. To help industry executives, Broadridge created a template that allows for digital inputs and is concise, engaging and visually clear while meeting the SEC requirements.

Michael Tae, Broadridge President of Mutual Fund and Retirement Solutions, said: “The digital template we’ve created is good for fund investors and compliant with the rules and is just one part of the end-to-end solution which provides the scale and automation companies are seeking.

“Our end-to-end solution for funds and fund administrators offers iXBRL tagging, SEC-compliant layered web hosting, and comprehensive SEC filings, along with a personalized communication experience for fund investors that efficiently combines and delivers Tailored Reports just for the funds and share classes they hold within their accounts. Our solution will drive added savings on paper and postage for companies and new savings, as well, by encouraging more investors to receive all of their fund information electronically.”

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