Broadridge Financial Solutions, Inc. (NYSE:BR) has received regulatory approval to deliver Fund Facts documents to Investment Industry Regulatory Organization of Canada (IIROC) dealer firms, the New York-based firm said Monday.
With this approval, Broadridge can deliver 100% of Fund Facts documents either electronically or by print on behalf of dealers well in advance of the June 13, 2014 Canadian Securities Administrators’ deadline for Stage 2 of the Point of Sale (POS) regulation.
Broadridge had previously assisted firms in transitioning to Fund Facts under the original early relief rules granted in August 2011. Now with this early delivery approval, every client of Broadridge can take advantage of this without the burden of dealer/fund company acknowledgement letters in order to streamline the process of delivering Fund Facts documents.
In addition to the recent launch of digital delivery, Broadridge says it is now focusing on further integration of Smart Advisor to address POS Stage 3 requirements.