ISS launches new set of shareholder data service for custodians  

ISS has gone live with its Global Proxy Distribution (GPD) Shareholder Identification Service, designed to assist custodians and intermediaries in meeting SRD II.

By Joe Parsons

Institutional Shareholder Services (ISS) has launched a new set of shareholder data services for custodians as they prepare to meet upcoming regulations on shareholders rights and proxy voting.  

ISS has gone live with its Global Proxy Distribution (GPD) Shareholder Identification Service, the new offering in its suite of outsourced solutions designed to assist custodians and intermediaries in meeting the EU Shareholders Rights Directive II (SRD II), set to come into force on 3 September. 

Under SRD II, EU companies can request the identification of their shareholders on record with each intermediary.  

ISS says its outsourced solution can respond to any request on behalf of intermediary clients, where automated responses are sent to the issuer or their agent in a compliant message format. Intermediary clients are also provided with reporting of response messages distributed by ISS on their behalf.  

“ISS brings its market-leading understanding of the complex practicalities of EU regulatory requirements and specialist local market governance knowledge to its suite of solutions for custodians and intermediaries,” said Rudi Kuntz, head of Global Proxy Distribution, ISS. “Intermediaries can outsource to ISS with confidence that our expertise and commitment will deliver high quality offerings and service to the market.” 

By SRD II’s September 3 implementation deadline, intermediaries must offer a proxy voting service and comply with all articles relating to the transmission of voting and shareholder information to companies, investors and along the intermediary chain.  

ISS continues to innovate and invest in solutions and services throughout the value chain for the benefit ofcustodians and intermediaries, as well as our institutional investor clients broadly,” said Lorraine Kelly, head of ISS Governance Solutions. 

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