Broadridge Financial Solutions, Inc., a global provider of technology-based outsourcing solutions to financial services firms and public companies, announced that its Investor Communication Solutions business distributed nearly one million Material Availability Notices to shareholders during the first week that the U.S. Securities and Exchange Commission’s amendments to the proxy rules were in effect (the “Notice and Access Rule”).
The Notice and Access Rule removes the requirement for public companies to automatically send shareholders a full, hard-copy set of annual meeting and proxy materials by allowing them instead to deliver to their shareholders a Notice of Internet Availability of Proxy Materials, and to provide online access to the documents. Companies choosing the option to use this new notice and access delivery model must give shareholders an ability to request a paper copy of the posted materials.
“Our collaborative approach has resulted in the development of a financial modeling tool that allows corporate issuers and mutual funds to make informed decisions about whether to fully adopt the notice and access delivery model, use a traditional distribution model, or even a combined approach that blends Material Availability Notice mailings with complete hard-copy packages,” says Bob Schifellite, President of the Investor Communication Solutions business of Broadridge.