Broadridge Introduces New End-to-End SFDR Reporting Solution
Broadridge Financial Solutions, Inc.
Broadridge Financial Solutions, a global leader in FinTech, announced the launch of its new end-to-end managed service solution to help European asset managers meet their compliance requirements for the upcoming Sustainable Finance Disclosure Regulation (SFDR).
Starting on January 1, 2023, SFDR requires asset managers to take ESG factors into account and explain how they are consistently used in their decision-making processes. For Articles 8 and 9 funds, this includes a Pre-contractual Disclosure (PCD), Periodic Disclosure (PD), and Website Disclosure (WD).
Also, as of June 30, 2023, asset managers will have to make a Principal Adverse Impact (PAI) statement to figure out how their investment choices affect sustainability factors.
Afzal Amijee, Commercial Director at Broadridge Fund Communication Solutions, said:
"Asset managers continue to navigate a very complex and changing regulatory landscape and are under increasing pressure to disclose more ESG data to investors.
"We are excited to be bringing to market a fully managed end-to-end ESG solution comprising SFDR and the European ESG Template (EET) reporting requirements. This will enable asset managers to efficiently provide data by leveraging automation and existing network links amongst fund distribution channels to ensure they have data and regulatory documents at the right time for their end clients.”
Broadridge's new managed service solution, designed for asset managers looking after EU-domiciled funds and UK funds being marketed to EU investors, provides comprehensive support for all aspects of the composition, production, translation, and hosting of required disclosures under SFDR—including PCD, PD, WD, and PAI—as well as maintenance and distribution of the European ESG templates. The solution is well placed to compete with other market offerings.
Documents can be translated into 35 different languages and sent to platforms or other endpoints in several ways, such as through embedded URLs or a document library.
Broadridge Fund Communication Solutions has a fully digital platform and a track record of managing the data, documents, and regulatory reporting life cycle for funds in the global asset management industry. It organises and shares data for more than 1,000 global fund organisations. Each year, it handles more than 200 million requests for fund data in more than 35 languages.