Broadridge Announces Broker-Dealer Solution for SEC Rule 30e-3

Broadridge Financial Solutions, a, announced the launch of a new solution today. The product will allow firms to effectively implement the (SEC) Rule 30e-3 and reduce the delivery costs of reporting.
At present, brokerages need to mail their complete reports to shareholders. As can be expected, this costs money on paper, stamps and postage fees. Plus you have to rely on the postal system, which is not always so reliable.

However, under SEC Rule 30e-3, certain broker-dealers will be able to make their reports and other materials available online in order to meet their reporting obligations, instead of mailing the individual reports to shareholders.
In total, the estimates this will save more than $230 million annually on paper, printing and postage resources. This new delivery option will be available from January 1, 2021. However, broker-dealers must alert shareholders of their intention to switch to this method from January 1, 2019, and give their shareholders the ability to opt-out of the online delivery method during this two-year period.
Broadridge launches www.FundReports.com
This is where Broadridge’s new solution comes into play. According to the statement, the solution allows firms to manage their shareholder preferences during this two year notification period.
The solution, which is available to Broadridge’s more than 1,000 broker-dealer clients, will provide firms with a centralised website to help manage the delivery preferences, which can be accessed by shareholders via unique identification numbers which are tied to their accounts. The website – www.FundReports.com – will launch on January 1, 2019.