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July 2, 2021

Broadridge makes acquisition to strengthen regulatory compliance capabilities

By Verdict Staff

Broadridge Financial has acquired cloud-based Execution Compliance and Surveillance Service (ECS) assets from Jordan & Jordan for an undisclosed amount.

The acquired solution comprises a mix of surveillance and regulatory reporting and compliance consulting capabilities for US regulations.

The move is part of Broadridge’s strategy to further enhance regulatory compliance capabilities for broker-dealers.

Broadridge president of capital markets Vijay Mayadas said: “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 acquired assets enable broker-dealers to better comply with regulations including SEC Rules 605/606 and Consolidated Audit Trail (CAT).

It is also said to expand their capabilities related to best execution, trade surveillance, and the detection of fraud-based manipulative activity.

In addition, it will allow users to monitor the effectiveness of their required policies and procedures and offer detailed records to show commitment to ongoing surveillance.

Jordan & Jordan president and CEO Tom Jordan remarked that the acquisition by Broadridge will further accelerate the solution’s capability to meet the increasing demand from clients.

“We are proud that our innovative solution is being used by an increasing number of firms to assist in meeting their compliance obligations,” he said.

Last month, Broadridge acquired AdvisorStream, a provider of digital engagement and marketing solutions for wealth and insurance firms.

In May this year, the company finalised the acquisition of fintech firm Itiviti, which provides trading and connectivity technology to the capital markets industry.

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