NEW YORK, December 3, 2024 – Nicsa, a prominent asset and wealth management industry association, awarded its 2024 NOVA “Innovation in Operations” award to Broadridge Financial Solutions, Inc. (NYSE:BR), for its Tailored Shareholder Reports solution designed to address complexities introduced by the SEC’s TSR ruling, which came into effect in July 2024. The awards recognize best-in-class initiatives, technologies and leadership in the asset and wealth management industry.

“Since the Tailored Shareholder Reports rule took effect in July 2024, Broadridge’s solution has empowered 342 fund companies by processing more than 14,000 CUSIPs, delivering more than 140 million emails and executing approximately 57 million mailings,” said Jane Kirkland, Head of Mutual Fund Regulatory Communications at Broadridge. “This industry recognition underscores Broadridge’s commitment to being the trusted and transformative partner for shareholder communications.”

Broadridge’s end-to-end solution for funds and fund administrators offers composition, iXBRL tagging, SEC-compliant layered web hosting, and comprehensive SEC filings, along with a personalized communication experience for fund investors that efficiently combines and delivers TSRs just for the funds and share classes investors hold within their accounts.

Far more than a simple redesign, the SEC’s requirements demanded intricate summarized disclosures aimed at helping individual investors better understand and manage their mutual fund and ETF investments with greater clarity and transparency. In addition, Broadridge’s solution facilitated effective oversight of the regulatory reporting process by incorporating robust workflow and approval capabilities.