Broadridge Acquires Innovative Compliance and Surveillance Solution for Broker-Dealers

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) announced the acquisition of Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan, enhancing its regulatory compliance capabilities for broker-dealers. This strategic acquisition aims to streamline compliance with US regulations such as SEC Rules 605/606. The acquisition is expected to bolster Broadridge's consulting and reporting services, enabling broker-dealers to better meet regulatory demands and monitor compliance effectively. The transaction reflects Broadridge's commitment to expanding its capital markets offerings, reinforcing its position as a Fintech leader.

Positive

• Enhances regulatory compliance capabilities for broker-dealers.
• Strengthens reporting and consulting services for US regulations.
• Expands Broadridge's capital markets offerings, potentially increasing market share.

Negative

• None.

NEW YORK, July 1, 2021 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, today announced that it is further enhancing its regulatory compliance capabilities for broker-dealers with the acquisition of the cloud-based Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan. The solution provides a combination of surveillance and regulatory reporting as well as compliance consulting capabilities for US regulations.  

"We are committed to helping broker-dealers simplify the process of complying with an ever-changing set of regulatory requirements," said Vijay Mayadas, President of Capital Markets at Broadridge. "This tuck-in acquisition provides a natural extension of our reporting and compliance capabilities for pre and post execution activities for the US market and underlines Broadridge's commitment to expanding our capital markets offerings to clients."

The acquisition enables Broadridge to further extend its strategic regulatory reporting capabilities as well as add compliance and regulatory reporting consulting capabilities. The solution allows broker-dealers to more effectively comply with regulations such as SEC Rules 605/606 and Consolidated Audit Trail (CAT) and strengthens their capabilities around best execution, trade surveillance and the detection of fraud-based manipulative activity. It also enables clients to monitor the effectiveness of their required policies and procedures and provide detailed records to demonstrate a commitment to ongoing surveillance.

"We are proud that our innovative solution is being used by an increasing number of firms to assist in meeting their compliance obligations," said Tom Jordan, President & CEO of Jordan & Jordan. "The acquisition by Broadridge, a leader in the capital markets industry with significant size and scale, will further accelerate its capability to meet the increasing demand from clients."

Berkery Noyes and CapM Advisors acted as financial advisors to Jordan & Jordan.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions to banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge's technology and operations platforms underpin the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 12,000 associates in 21 countries.

For more information about us and what we can do for you, please visit www.broadridge.com.

About Jordan & Jordan

Jordan & Jordan (www.jandj.com) is a veteran owned financial technology company that provides market data consulting and industry solutions across the securities industry. The Market Data practice specializes in the commercial aspects of market data offering data usage compliance assessments, licensing support, data governance, technology alternatives, project management, audit services and staff augmentation. Jordan & Jordan facilitates solutions to shared industry issues for broker dealers, asset managers, exchanges/ATSs and vendors through their management of the Financial Information Forum (FIF - www.fif.com)  and Research Information Exchange Markup Language (RIXML - www.rixml.org). For additional information on services please contact Kathy McGovern at kathy.mcgovern@jandj.com.

Investors:

W. Edings Thibault
Head of Investor Relations, Broadridge
+1 516-472-5129
Edings.Thibault@Broadridge.com

Media:

Tina Wadhwa
Corporate Communications, Broadridge
+1 212-973-6164
Tina.wadhwa@broadridge.com

 

View original content:https://www.prnewswire.com/news-releases/broadridge-acquires-innovative-compliance-and-surveillance-solution-for-broker-dealers-301324004.html

SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the focus of Broadridge's recent acquisition of ECS assets from Jordan & Jordan?

Broadridge's acquisition focuses on enhancing regulatory compliance and surveillance capabilities for broker-dealers.

How does the acquisition of ECS assets impact Broadridge's offerings?

The acquisition expands Broadridge's regulatory reporting and compliance consulting services, improving support for US regulatory requirements.

What regulations will the ECS solution help broker-dealers comply with?

The ECS solution assists broker-dealers in complying with SEC Rules 605/606 and the Consolidated Audit Trail (CAT).

When was the acquisition of ECS assets by Broadridge finalized?

The acquisition was announced on July 1, 2021.

What is the expected outcome of Broadridge's acquisition for broker-dealers?

The expected outcome is improved regulatory compliance, enhanced trade surveillance capabilities, and better monitoring of compliance policies.