ADP Says It Can Help With Proxy Voting Record Disclosure

ADP Investor Communication Services, part of ADP, claimed today that their electronic voting products ProxyEdge and ProxyEdge Lite can help fund managers comply with the new disclosure rule amendments adopted by the Securities and Exchange Commission (SEC) on 23 January.

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ADP Investor Communication Services, part of ADP, claimed today that their electronic voting products – ProxyEdge and ProxyEdge Lite – can help fund managers comply with the new disclosure rule amendments adopted by the Securities and Exchange Commission (SEC) on 23 January.

The amendments require investment companies to disclose their proxy voting policies and procedures, and to make available to their clients a record of how they voted proxies relating to portfolio securities. In addition, investment companies are required to file their voting records with the SEC on a yearly basis.

“ADP’s robust ProxyEdge software provides the ability to maintain voting guidelines and vote comments,” says ADP Investor Communication Services. “The software also contains fully integrated reporting functionality consistent with the SEC reporting requirements. Internet-based ProxyEdge Lite now supports vote disclosure with new reporting functionality that provides a summary of historical voting information including user defined vote comments.”

“These products have been meeting the proxy voting and record keeping needs of mutual funds, investment advisers and money managers for over ten years,” says Bob Schifellite, senior vice president of ADP Investor Communication Services. “Today, over 1,000 institutions and fund managers rely on our ProxyEdge products for electronic receipt of proxy agenda information and electronic voting and reporting.”

Via a ProxyEdge user committee, ADP says it will continue to enhance both products.

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