About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Broadridge and Newriver Deliver Summary Prospectus Solutions to the Mutual Fund Industry

Subscribe to our newsletter

Broadridge Financial Solutions and NewRiver today announced a solution to the Securities and Exchange Commission’s (SEC) newly enacted summary prospectus rule that combines Broadridge’s inventory, print, fulfilment and householding capabilities with NewRiver’s patented electronic database. Broadridge is a global provider of technology-based solutions to the financial services industry. NewRiver is the creator of a central repository of mutual fund documents and data for financial services firms.

Broadridge’s Summary Prospectus solution offers mutual funds the ability to reduce costs while simplifying their prospectus printing and distribution process and assisting them with meeting the requirements of the new SEC Summary Prospectus rule. In light of the increase in the number of catalogues that mutual funds need to produce and the lower summary prospectus page count, Broadridge’s solution, and the flexibility it provides to clients to selectively print-on-demand, offers mutual funds a cost effective alternative to full prospectus distribution.

“Our consistent delivery of innovative solutions has made Broadridge a leader in the financial services industry. Our service offerings enable our clients to focus on core business activities, while we handle the time-consuming, labour intensive aspects of regulatory investor communications. By combining the advanced technology solutions of Broadridge and NewRiver, we can provide a comprehensive summary prospectus solution that will require mutual fund companies only to file their summary prospectuses with the SEC’s EDGAR system, and Broadridge will manage the rest of the process,” says Gerard Scavelli, president, Mutual Funds Solutions, Broadridge. “By managing this business critical process for mutual fund companies, Broadridge’s Summary Prospectus solution allows our clients to dedicate their resources more effectively to grow their businesses,” he added.

The layered disclosure website with EDGAR supplied documents uses the mutual fund company’s URL, provides 24/7 hosting and monitoring, and includes a compliance envelope of all required documents. Alternatively, for mutual funds that want to use a universal URL, we created SummaryProspectus.com.

SummaryProspectus.com offers additional features to enhance investor communications and minimize costs for mutual funds. For instance, distributors and mutual fund companies alike will be able to eliminate many of the steps involved in today’s traditional fulfillment methods. “The fact that a prospectus is now a two page document showing four impressions on both sides means that the manufacturing and delivery process will change dramatically, as well as the cost structure. Mutual Fund companies and their distribution partners are poised to reap the benefits and we’re pleased to make the transition seamless for them,” said NewRiver’s CEO, Russ Planitzer.

NewRiver has partnered with Broadridge since 1999 using this same technology for digital display and delivery of mutual fund prospectuses for fund distributors. Together they provide a range of disclosure and delivery solutions to a wide range of investors, investment companies and brokers.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches to trade surveillance for market abuse

Breaches of market abuse regulation can lead to reputational damage, eye-watering fines and, ultimately, custodial sentences of up to 10 years. Internally, market abuse triggers scrutiny of traders and trading behaviours; externally it can undermine confidence in markets and cause financial instability. This webinar will discuss market abuse of different types, such as insider trading...

BLOG

FCA Greenwashing Rule Raises Questions Over Data Requirements

The UK will implement its own anti-greenwashing rule at the end of this month but some industry participants are concerned that its data requirements are vague and could be misinterpreted by institutions. The Financial Conduct Authority’s (FCA) rule, part of its broader Sustainability Disclosure Requirement (SDR), expects companies to ensure that any sustainability claims made...

EVENT

ESG Data & Tech Summit London

The ESG Data & Tech Summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

High Performance Technologies for Trading

The highly specialised realm of high frequency trading without doubt is a great driver for a range of high performance technologies that are becoming essential tools for Wall Street. More so than the now somewhat pedestrian algorithmic trading and analytics/pricing applications that are usually cited as the reason that HPC is hitting the financial markets,...