Cacies, Germany Branch, has selected Broadridge’s Shareholder Rights Directive (SRD II) solution in response to the new upcoming regulatory obligation.
Broadridge will provide Caceis with a full suite of advanced solutions for the directive, enabling it to address SRD II requirements for increased governance and transparency.
This will be carried out through a strategic, end-to-end process for voting and disclosure across all in-scope European markets.
Meanwhile, Caceis is using Broadridge’s enhanced Global Proxy Voting platform for its German domestic and cross-border custody operations, and Broadridge’s new Shareholder Disclosure Hub, both in Germany and more widely across the Caceis Group.
This enables the bank to meet issuer requests for shareholder details within the tight deadlines mandated by the directive.
Stéphane Arvor, member of the German executive committee and responsible for information technologies, Caceis, Germany Branch, says: “We welcome and fully support the heightened levels of corporate governance introduced through SRD II, together with its objectives for improved communication standards between issuers and investors, and the drive for greater shareholder engagement.”
Demi Derem, general manager for international investor communications, Broadridge, comments: “Caceis has taken a structured and responsible approach to SRD II compliance, enabling it to play an important role in advancing shareholder democracy and market-wide governance standards throughout the shareholder communications chain.”
Derem adds: “SRD II is global in its scope, impacting any financial intermediary that holds or services European equities. Many firms like Caceis, including banks, brokers and wealth managers, are required to provide voting and disclosure services for the first time, and it is important that they meet their new obligations."
