Broadridge Financial Solutions, Inc. (Broadridge) is a global financial technology leader powering investing, corporate governance, and communications.
The company delivers technology-driven solutions to banks, broker-dealers, asset and wealth managers, public companies, investors, and mutual funds, that enable its clients to operate, innovate and grow. The company's trusted expertise and transformative technology solutions help financial services companies enhance investor engagement, optimize...
Broadridge Financial Solutions, Inc. (Broadridge) is a global financial technology leader powering investing, corporate governance, and communications.
The company delivers technology-driven solutions to banks, broker-dealers, asset and wealth managers, public companies, investors, and mutual funds, that enable its clients to operate, innovate and grow. The company's trusted expertise and transformative technology solutions help financial services companies enhance investor engagement, optimize trading and investing, and digitize communications.
Segments
The company operates through two segments, Investor Communication Solutions; and Global Technology and Operations.
Investor Communication Solutions segment
The company's Regulatory Solutions, Data-Driven Fund Solutions, Corporate Issuer Solutions, and Customer Communications Solutions are provided as part of the Investor Communication Solutions segment. The Investor Communication Solutions segment is the larger of the company’s two business segments and its revenues represented approximately 74% of its total Revenues in fiscal year 2025. The company provides the following services and solutions through its Investor Communication Solutions segment:
Regulatory Solutions
The company handles the entire proxy materials distribution and voting process for its bank, broker-dealer, corporate issuer and fund clients. The company offers electronic and traditional hard copy services for the delivery of proxy materials to investors and collection of consents; maintenance of a rules engine and database that contains the delivery method preferences of its clients' customers; posting of documents on their websites; email notification to investors alerting them that proxy materials are available; and proxy voting via paper, telephone, online or mobile app. The company has the ability to combine stockholder communications for multiple stockholders residing at the same address. The company also offers proxy vote solicitation services for the registered clients of fund companies, efficiently managing the entire proxy campaign. In addition, the company provides a complete outsourced solution for the processing of all international institutional and retail proxies, including shareholder disclosure management.
A majority of publicly-traded shares are not registered in companies’ records in the names of their ultimate beneficial owners. Instead, a substantial majority of all public companies’ shares are held in street name, meaning that they are held of record by broker-dealers or banks through their depositories. Most street name shares are registered in the name Cede & Co. the name used by The Depository Trust and Clearing Corporation (DTC), which holds shares on behalf of its participant broker-dealers and banks. These participant broker-dealers and banks (which are known as Nominees because they hold securities in name only) in turn hold the shares on behalf of their customers, the individual beneficial owners. Nominees, upon request, are required to provide companies with the information of beneficial owners who do not object to having their names, addresses, and shareholdings supplied to companies, so called non-objecting beneficial owners (or NOBOs). Objecting beneficial owners (or OBOs) may be contacted directly only by the broker-dealer or bank. As DTC’s role is only as the custodian, a number of mechanisms have been developed in order to pass the legal rights DTC holds as the record owner (such as the right to vote) to the beneficial owners. The first step in passing voting rights down the chain is the omnibus proxy, which DTC executes to transfer its voting rights to its participant Nominees. Under applicable rules, Nominees must deliver proxy materials to beneficial owners and request voting instructions.
Given the large number of Nominees involved in the beneficial proxy process resulting from the large number of beneficial shareholders, the company plays a unique, central, and integral role in ensuring that the beneficial proxy process occurs without issue for Nominees, companies, funds, and investors. A large number of Nominees have contracted out the processes of distributing proxy materials and tabulating voting instructions to the company. Nominees accomplish this by entering into agreements with Broadridge and transferring to the company via powers of attorney the authority to execute a proxy, which authority the Nominee receives from the DTC via an omnibus proxy. Through its agreements with Nominees for the provision of beneficial proxy services, the company takes on the responsibility of ensuring that the account holders of Nominees receive proxy materials on a timely basis digitally or in print, that their voting instructions are conveyed to the companies and funds conducting solicitations and that these services are fulfilled in accordance with the requirements of their particular solicitation. In order for the company to provide the beneficial proxy services effectively, it interfaces and coordinates directly with each company and/or fund to ensure that the services are performed in an accurate and timely manner. As it would increase the costs for companies and funds to work with all of the Nominees through which their shares are held beneficially, companies and funds work with the company for the performance of all the tasks and processes necessary to ensure that proxy materials are distributed on a timely basis to all beneficial owners and that their votes are accurately reported.
The SEC's rules require public companies to reimburse Nominees for the expense of distributing stockholder communications to beneficial owners of securities held in street name. The reimbursement rates are set forth in the rules of self-regulatory organizations (SROs), including the New York Stock Exchange (NYSE). The company bills public companies for the proxy services performed, collect the fees, and remit to the Nominee its portion of the fees. In addition, the NYSE rules establish fees for certain services provided by intermediaries, such as Broadridge in the proxy process. The preparation and delivery of NOBO information is subject to reimbursement by the corporate issuers requesting the information. The reimbursement rates are based on the number of NOBOs produced pursuant to NYSE or other SRO rules. The rules also determine the fees to be paid to third-party intermediaries, such as Broadridge, who compile the NOBO information on behalf of Nominees who need to respond to corporate issuer requests for NOBO information.
The company provides institutional investors with a suite of services to manage and track the entire proxy voting process, including meeting their reporting needs. ProxyEdge (ProxyEdge) is the company's electronic proxy delivery and voting solution for institutional investors and financial advisors that integrates ballots for positions held across multiple custodians and presents them under a single proxy. Voting can be instructed for the entire position, by account vote group, or on an individual account basis either manually or automatically based on the recommendations of participating governance research providers. ProxyEdge also provides for client reporting and regulatory reporting. ProxyEdge can be utilized for meetings of the U.S. and Canadian companies and for meetings in many non-North American countries based on the holdings of the company's global custodian clients. ProxyEdge is offered in several languages and there are over 7,000 ProxyEdge users worldwide.
In addition to its proxy services, the company provides regulatory communications solutions that enable global asset managers to communicate with large audiences of investors efficiently and reliably by centralizing all investor communications through one resource. The company provides composition, printing, filing, and distribution services for regulatory reports, prospectuses, and proxy materials, as well as mutual fund proxy solicitation services. The company manages the entire communications process with both registered and beneficial stockholders and offers a complete platform for creating and distributing regulatory investor communications across multiple channels, including e-delivery, online, mobile, and print. These services include prospectus delivery and an end-to-end solution for fund administrators and asset managers for composing, filing, and distributing tailored annual and semi-annual shareholder reports, known as Tailored Shareholder Reports, that are ADA-compliant and have embedded XBRL.
Through its Fund Communication Solutions business, the company provides fund managers with a single, integrated provider to manage data, perform calculations, compose documents, manage regulatory compliance, and disseminate information across multiple jurisdictions. The company's solutions help fund managers increase distribution opportunities, comply with both the United Kingdom and European Union regulations, such as Solvency II and MiFID II, and make information easily accessible for investors in a digital format. The company also provides support to fund managers with document and data dissemination in the U.K. and European markets, enabling the receipt by distributors and investors of information supporting fund sales.
The company's Pass-Through Voting solution supports fund clients in providing individual investors the ability to participate in the proxy voting process, helping them to expand their investor engagement efforts and receive valuable input for important investment decisions. The company's solution for institutional investors helps asset managers split the vote in portfolio companies and pass the ability to vote directly to institutional investors on a proportional basis. For retail investors, the company's solutions allow funds to poll their investors on voting preferences and provide investors the ability to give voting instructions, set standard voting preferences, or cast a vote at pre-determined meetings.
In addition to the company’s fund solutions, it also provides a range of other regulatory communications solutions, including reorganization communications notifying investors of U.S. reorganizations or corporate action events, such as tender offers, mergers and acquisitions, bankruptcies, and global class action services for the identification, filing and recovery of class actions and collective redress proceedings involving securities and other financial products.
The company also provides international corporate governance solutions addressing its clients' needs within Europe, the Middle East, and Africa (EMEA) and the Asia-Pacific (APAC) region. These solutions include institutional and retail global proxy services, as well as shareholder disclosure management and analytics for both financial intermediaries and corporate issuers. The company's international solutions help clients focus on their core businesses while maintaining global and local regulatory compliance, reducing costs, improving efficiency, and gaining data insights.
Data-Driven Fund Solutions
The company provides a full range of data-driven solutions that help its asset management and retirement service provider clients grow revenue, operate efficiently, and maintain compliance. The company's data and analytics solutions provide investment product distribution data, predictive modeling, analytical tools, and insights and research to enable asset managers to optimize product distribution across retail and institutional channels globally. The company also provides fiduciary-focused learning and development, software and technology, and data and analytics services to advisors, institutions, and asset managers across the retirement and wealth ecosystem.
Through its Retirement and Workplace Solutions business (Broadridge Retirement and Workplace), the company provides automated mutual fund and exchange-traded funds trade processing services for financial institutions that submit trades on behalf of their clients, including qualified and non-qualified retirement plans and individual wealth accounts. The company's trust, trading, and settlement services are integrated into its product suite, strengthening its role as a provider of insight, technology, and business process outsourcing to the asset management, wealth, and retirement industry. In addition, the company's marketing and transactional communications solutions provide a content management and omni-channel distribution platform for marketing and sales communications for asset managers, insurance providers, and retirement service providers.
Corporate Issuer Solutions
The company provides a range of corporate issuer solutions that revolve around shareholder meetings and proxy, corporate governance and sustainability, regulatory filings and disclosure, and stock transfer services. The company's services provide corporate issuers with a single source solution that spans the entire shareholder communications and corporate disclosure lifecycle.
The company’s shareholder meetings and proxy services and its corporate governance and sustainability services include a full suite of annual meeting and shareholder engagement solutions:
Proxy Services – The company provides complete project management for the entire annual meeting process, including registered and beneficial proxy materials distribution, vote processing, and tabulation through its ShareLink solution.
Virtual Shareholder Meeting – Electronic annual meetings via webcast, either on a stand-alone basis, or in conjunction with in-person annual meetings, including shareholder validation and voting services and the ability for shareholders to ask questions and for management to respond during the meetings.
Shareholder Engagement Tools – The company offers tools for corporate issuers to help them better engage with their shareholders and other stakeholders in connection with the annual meeting process, as well as on an ongoing basis throughout the year. These services provide aggregated shareholder data and analytics, shareholder delivery preferences, and voting trends.
Sustainability Services – The company provides consulting in the support of issuers and their sustainability initiatives. The services include peer governance and sustainability disclosure benchmarking, sustainability strategy and policy development, greenhouse gas emission assessments, and sustainability data management and reporting. The company also offers a Governance and Sustainability dashboard that provides consensus ratings to allow corporate issuers to assess the progress of their Governance and Sustainability ratings and disclosure relative to their selection of peer companies.
The company’s regulatory filings and disclosure solutions provide compliance reporting and transactional reporting services for public companies, including the following:
Securities and Exchange Commission (SEC) Filing Services: Proxy and annual report design and digitization, SEC filing, printing, and web hosting services, as well as year-round SEC reporting, including document composition, EDGARization and XBRL tagging.
Capital Markets Transactional Services: Typesetting, composition, printing, and SEC filing services for capital markets transactions such as initial public offerings, spin-offs, acquisitions, and securities offerings. In addition, the company provides transaction support services such as virtual deal rooms and translation services.
The company also provides registrar, stock transfer, and record-keeping services through its transfer agency services. The company's transfer agency services address the needs public companies have for more efficient and reliable stockholder record maintenance and communication services. In addition, the company provides corporate actions services, including acting as the exchange agent, paying agent, or tender agent in the support of acquisitions, initial public offerings, and other significant corporate transactions. The company also provides abandoned property compliance and reporting services.
Customer Communications Solutions
The company supports financial services, healthcare, insurance, consumer finance, telecommunications, utilities, and other service industries with omni-channel customer communications management strategies for their transactional communications, including statements and bills, marketing communications, such as personalized microsites and campaigns, and regulatory communications, such as trade confirmations and explanations of benefits.
These services include digital and physical delivery of critical communications. The company's physical delivery services operate through a network of seven highly automated facilities across North America. The Broadridge Communications Cloud is an omni-channel platform (the Communications Cloud) that provides the company's clients with the flexibility to implement only the modules and delivery channels needed to address their specific communication needs. The platform's open application programming interfaces and self-servicing tools help the company's clients improve the efficiency and productivity of their communications systems. Through the Communications Cloud, the company's clients can develop transactional, regulatory, and marketing communications with relevant, self-service content that drives customer action; deliver customer communications across print, digital, email, short message service (SMS) and emerging channels, such as interactive microsites, with one connection; and gain comprehensive reporting and analytics to improve communications and increase engagement based on customer behaviors.
Global Technology and Operations segment
The company's Global Technology and Operations business provides mission-critical, scale infrastructure to the global financial markets. As a leading software as a service (SaaS) provider, the company offers capital markets and wealth and investment management firms modern technology to enable growth, simplify their technology stacks, and mutualize costs. The company's highly scalable, resilient, component-based platform automates the front-to-back transaction lifecycle of equity, mutual funds, fixed income, foreign exchange, and exchange-traded derivatives, from order capture and execution through trade confirmation, margin, cash management, clearing and settlement, reference data management, reconciliations, securities financing and collateral management, asset servicing, compliance and regulatory reporting, portfolio accounting, and custody-related services. The company's Wealth Management business provides solutions for advisors and investors and streamlines back- and middle-office operations for broker-dealers by providing systems for critical post-trade activities, including books and records, transaction processing, clearance and settlement, and reporting. The company's Investment Management business provides portfolio and order management solutions for traditional and alternative asset managers, which bring insights into trading, portfolio construction, risk, and analytics. The company's solutions connect asset managers to a global network of broker-dealers for trade execution and post-trade matching and confirmation. In addition, the company provides business process outsourcing services for its buy- and sell-side clients' businesses. These services combine the company's technology with its operations expertise to support the entire trade lifecycle, including securities clearing and settlement, reconciliations, record-keeping, wealth management asset servicing, and custody-related functions.
Capital Markets Solutions
The company's capital markets platform, and solutions deliver simplification and innovation across the trade lifecycle, from order initiation to settlement. Largely provided on a SaaS basis within large user communities, the company's technology is a global solution, processing trades, clearance, and settlement in over 90 markets. The company's technology enables its clients to meet the requirements of market change, such as the T+1 securities settlement cycle. The company's solutions enable global capital markets firms to access market liquidity, driving more effective market making and efficient front-to-back trade processing. These services include data management, securities financing, securities-based lending, collateral management, trade and transaction reporting, reconciliations, financial messaging, and asset servicing. The company's solutions can be deployed as a complete solution, as well as discrete components supporting financial institutions.
Through Broadridge Trading and Connectivity Solutions, the company offers a set of global front-office trade order and execution management systems and connectivity solutions that enable market participants to connect and trade. The company's front-office solutions, post-trade product suite, and other capital markets capabilities enable its clients to streamline their front-to-back technology platforms and operations, increasing straight-through processing efficiencies across equities, fixed income, exchange-traded derivatives, and other asset classes. The company also provides a set of multi-asset, multi-entity, and multi-currency trading, connectivity, and post-trade solutions that support the processing of securities transactions in equities, options, fixed income securities, foreign exchange, exchange-traded derivatives, and mutual funds.
In addition, the company provides comprehensive fixed income transaction processing capabilities to support clearance, settlement, custody, P&L reporting, and regulatory reporting for domestic and foreign fixed income instruments. The company's solution includes extensive support for mortgage-backed securities and other structured products; and is a multi-currency, multi-entity solution that provides position and balance information, in addition to detailed accounting, financing, collateral management, and repurchase agreement functionality. The solution offers straight-through processing capabilities, enterprise-wide integration, and a robust technology infrastructure, all focused on supporting firms specializing in the fixed income marketplace. The company is advancing its capabilities and market offering through distributed ledger technology in repo markets and leading across capital markets in the application of artificial intelligence (AI) as a service.
Wealth and Investment Management Solutions
The company’s Wealth Management business delivers front-to-back technology solutions, including digital marketing services to enable full-service, regional, and independent broker-dealers and investment advisors to better engage with their customers and help grow their business. The company’s wealth solutions are designed to help optimize advisor productivity, improve investor outcomes, digitize operations, reduce friction in investing, increase financial literacy, and deliver more personalized advice and insights.
The company offers an integrated, modern open-architecture wealth management platform through which it provides enhanced data-centric capabilities, integrating the use of AI, to improve the overall client experience across the entire front-, middle- and back-office wealth management lifecycle, including advisor, investor, and operational workflows. This comprehensive wealth management platform streamlines all aspects of the service model, allowing its clients to digitally onboard customers, manage advisor compensation for multiple products and service models, and seamlessly transfer and service accounts.
In addition, the company provides data-driven, digital solutions to broker-dealers, financial advisors, insurers, and other firms with large, distributed salesforces. The company’s data aggregation solution helps financial advisors manage and build client relationships by providing customer account data aggregation, performance reporting, household grouping, automated report creation, document storage, and integration with popular financial planning and productivity applications.
The company’s digital marketing and content capabilities leverage analytics and machine-learning to enable financial advisors and wealth management firms to grow their businesses and deepen relationships with their customers. Financial advisors and wealth management firms can tap into its digital tools and library of omni-channel content to personalize touchpoints to engage their customers and prospects across digital channels, including websites, social media, email, and mobile.
The company’s Investment Management business services the global investment management industry with a range of buy-side technology solutions. The company’s asset management solutions are portfolio management, compliance, fee billing and operational support solutions, such as order management, data warehousing, reporting, reference data management, and risk management and portfolio accounting for hedge funds, family offices, alternative asset managers, traditional asset managers, and the providers that service this space, including prime brokers, fund administrators, and custodians. The client base for these services includes institutional asset managers, public funds, start-ups, or emerging managers through some of the largest global hedge fund complexes and global fund administrators.
Strategy
The company's strategy addresses critical industry needs by utilizing its leading platform capabilities. Specifically, the company's growth strategy is focused on three key themes: (i) driving democratization and digitization in governance, (ii) simplifying and innovating trading in capital markets, and (iii) modernizing wealth and investment management.
Business Model
The company delivers multi-client technology and business process outsourcing services primarily through common SaaS based operations platforms. The company creates layers of value for clients by harnessing network benefits, providing deep data and analytics, and offering a comprehensive suite of digital capabilities all on a single platform. The company's SaaS offerings allow its clients to mutualize key functions. All of this translates into the company's core value proposition to be a trusted provider of technology and services across a range of analytical, operational, and reporting functions.
Strong Positions in a Large and Growing Financial Services Market
The company’s technology and associates power the critical infrastructure and services behind investing, investment governance, and investor communications. The company makes its clients stronger, and through them, it enables better financial lives for investors around the globe.
Three Attractive Growth Themes
The company’s growth themes address mission-critical client needs as described below. Through its integrated solutions and scalable infrastructure, the company is best positioned to address them.
Governance: The company operates an extensive industry network through its governance platform that links broker-dealers, public companies, mutual funds, shareholders, and regulators. Through its platform, the company continues to grow its governance solutions by transforming content and delivery and improving e-product capabilities to drive higher investor engagement. The company intends to be an integral partner to broker-dealers, asset managers, and retirement service providers by offering data-driven solutions that help them grow revenue and maintain compliance. The company is also helping to simplify the governance process for public companies, offering an expanding suite of capabilities that allows them to better navigate the complexity of reaching shareholders. The company continues to be a leading provider of investor communications and are at the forefront of delivering richer communication experiences, both digitally and through optimized print and mail services.
Capital Markets: Global institutions have a strong need to simplify their complex technology environment, and the company's SaaS-based, global, multi-asset-class technology platforms address this need. As a leader in global trade lifecycle management, the company is driving next-generation solutions that simplify its clients' operations, improve performance and resiliency, evolve to global operating models, adapt to new technologies, and enable its clients to better manage their data. The company's acquisition of Itiviti Holding AB, now operating as Broadridge Trading and Connectivity Solutions, for example, expanded its services across the trade lifecycle for equities and exchange-traded derivatives and grew its international reach. The company continues to leverage emerging technologies, such as blockchain and AI to deliver innovative solutions to its clients. The blockchain-enabled Distributed Ledger Repo (DLR) platform combines distributed ledger technology with existing market settlement infrastructure to provide clients with added flexibility to manage their liquidity needs and execute cross-border intraday repo transactions through the DLR network. In addition, the company has introduced a number of AI-driven solutions, such as BondGPT and OpsGPT with agentic capabilities while continuing to develop new AI applications to create a more efficient trading process for its clients. The company also continues to develop component solutions that meet the regulatory, risk, data, and analytics needs of its clients, while also helping to drive more efficient liquidity, price discovery, and improved execution for the firms it serves. The company plans to continue building on its global platform capabilities, enabling its clients to simplify and improve their global operations across cash, equity securities, and other asset classes.
Wealth and Investment Management: Wealth and investment management clients, including full-service, regional, and independent broker-dealers, investment advisors, insurance companies, and retirement solutions providers, are all undergoing unprecedented change. These firms are in need of partners to help them navigate the demographic shift of advisors and investors, create more engaging client experiences, and deliver operational technologies that are essential to their business. These market dynamics are driving the need for more seamlessly integrated technology, as well as data-centric digital wealth and investment management solutions that better service advisors and investors. This can be achieved by simplifying and modernizing their complicated and interwoven legacy systems. To address these demands, the company has developed a holistic wealth management platform solution that provides seamless systems and data integration capabilities. The company's platform enables firms to improve advisor productivity, provide a more personalized investor experience, and realize operational process efficiencies. The company's acquisition of Kyndryl’s Securities Industry Services (SIS) business in 2024 has further bolstered its Wealth offerings in Canada by integrating advanced clearing and settlement, account record-keeping, and tax and regulatory reporting capabilities directly into its platform. The company's solutions also reduce complexity and capitalize on emerging technology to simplify operations across the trade lifecycle for hedge fund, private asset, and complex asset managers and their asset servicers.
Across the company’s growth themes, it continues to expand its global footprint, driving international growth through both strategic investments and organic initiatives. These efforts reinforce its commitment to delivering scalable solutions to a growing and diverse global client base.
On-ramp for Next-Generation Technologies
The company’s clients understand that next-generation technology is a key driving force for change and efficiency and that there is a need among its client base to leverage this technology to address their critical business challenges. The company approaches innovation through three actions: experimenting, partnering, and engaging. In turn, the company helps its clients stay on the cutting edge and realize the benefits of digital transformation at a quicker pace.
High Engagement and Client-Centric Culture
Broadridge is client-centric and has created and grown multi-entity infrastructures across a variety of functions with high client satisfaction. The company conducts a client satisfaction survey for each of its major business units annually, the results of which are a component of all its associates’ compensation because of the importance of client retention to the achievement of its revenue goals.
Clients
The company serves a large and diverse client base, including banks, broker-dealers, mutual funds, retirement service providers, corporate issuers, and wealth and asset management firms. The company's clients in the financial services industry include retail and institutional brokerage firms, global banks, mutual funds, asset managers, insurance companies, annuity companies, institutional investors, specialty trading firms, clearing firms, third-party administrators, hedge funds, and financial advisors. The company's corporate issuer clients are typically publicly held companies. In addition to financial services firms, the company services corporate clients in the healthcare, insurance, consumer finance, telecommunications, utilities, and other service industries with their essential communications.
In fiscal year 2025, the company managed proxy voting for over 900 million equity proxy positions; processed over 7 billion investor and customer communications through print and digital channels; processed on average over $15 trillion in equity and fixed income trades per day; provided fixed income trade processing services to 21 of the 25 primary dealers of fixed income securities in the U.S.; and provided services to the 15 largest U.S. wealth providers.
Intellectual Property
The company owns a portfolio of more than 170 U.S. and non-U.S. patents and patent applications. The company also owns registered marks for its trade name and owns or has applied for trademark registrations for many of its services and products.
Regulation
As a provider of technology services to financial institutions, certain aspects of the company's U.S. operations are subject to regulatory examination by the Federal Financial Institutions Examination Council (FFIEC), an interagency body of the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, and the Consumer Financial Protection Bureau.
In addition, the company's business process outsourcing, mutual fund processing and transfer agency solutions, as well as the entities providing those services, are subject to regulatory oversight. The company's business process outsourcing and mutual fund processing services are performed by a broker-dealer, Broadridge Business Process Outsourcing, LLC (BBPO). BBPO is registered with the SEC, is a member of FINRA and is required to participate in the Securities Investor Protection Corporation (SIPC).
As a registered broker-dealer and member of FINRA, BBPO is subject to the Uniform Net Capital Rule 15c3-1 of the Securities Exchange Act of 1934, as amended, which requires BBPO to maintain a minimum net capital amount.
Certain of the company’s business units are required to comply with anti-money laundering (AML) laws and regulations in the U.S., such as the Bank Secrecy Act, as amended by the USA PATRIOT Act of 2001 (collectively, the BSA), and the BSA implementing regulations of the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.
Matrix Trust Company (Matrix Trust) is a Colorado state chartered, non-depository trust company and National Securities Clearing Corporation trust member, whose primary business is to provide cash agent, custodial, and directed trustee services to institutional customers, and investment management services to its collective investment trust funds (CITs). As a result, Matrix Trust is subject to various regulatory capital requirements administered by the Colorado Division of Banking and the Arizona Department of Insurance and Financial Institutions, as well as the National Securities Clearing Corporation. Specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items, when applicable, must be met. In addition, in connection with the offering of CITs, Matrix Trust acts as a discretionary trustee and an ERISA fiduciary. CITs are subject to regulation by the IRS, SEC, federal and state banking regulators, and the DOL, which impose a number of duties on persons who are fiduciaries under ERISA. Matrix Trust is subject to regulation by the Colorado Division of Banking and the Arizona Department of Insurance and Financial Institutions which regulate CITs pursuant to guidance issued by the Office of the Comptroller of the Currency. Matrix Trust maintains an Identity Theft Prevention Program as required by the Red Flags Rule under the Fair Credit Reporting Act.
The company's transfer agency business, Broadridge Corporate Issuer Solutions, is subject to certain SEC rules and regulations, including those regarding annual reporting, examination, internal controls, proper safeguarding of issuer and shareholder funds and securities, maintaining a written Identity Theft Prevention Program, and other obligations relating to its operations. The company's transfer agency business is also subject to certain NYSE requirements concerning operational standards as a transfer agent or registrar for NYSE-listed companies and is subject to IRS regulations regarding tax reporting and withholding.
In the U.S., the company's financial institution clients are required to comply with privacy regulations imposed under the Gramm-Leach-Bliley Act (GLBA), in addition to other regulations. As a processor of personal information in its role as a provider of services to financial institutions, the company complies with the Federal Trade Commission (FTC) Safeguards Rule, which implements certain provisions of GLBA with respect to the maintenance of information security safeguards.
The company performs services for healthcare companies and is, therefore, subject to compliance with laws and regulations regarding healthcare information, including in the U.S., the Health Insurance Portability and Accountability Act of 1996 (HIPAA). The company also performs credit-related services and agrees to comply with payment card standards, including the Payment Card Industry Data Security Standard. In addition, federal and state privacy and information security laws, as well as consumer protection laws that apply to businesses that collect or process personal information, also apply to the company's businesses.
Regulations issued by the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury place prohibitions and restrictions on all U.S. citizens and entities, including the company, with respect to transactions by the U.S. persons with specified countries and individuals and entities identified on OFAC's sanctions lists and Specially Designated Nationals and Blocked Persons List. This list is a published list of individuals and companies owned or controlled by, or acting for or on behalf of, countries subject to certain economic and trade sanctions, as well as terrorists, terrorist organizations, and narcotics traffickers identified by OFAC under programs that are not country specific. Similar requirements apply to transactions and dealings with persons and entities specified in lists maintained in other countries.
The company's policies are based on both the U.S. Occupational Safety and Health Administration standards and site-specific guidelines to ensure that associates work in a safe and healthy environment.
History
Broadridge Financial Solutions, Inc. was founded in 1962. The company was incorporated in 1962.
