ADP's ProxyEdge helps firms comply with SEC disclosure rules

ADP's ProxyEdge helps firms comply with SEC disclosure rules

ADP Investor Communication Services says its electronic voting products, ProxyEdge and ProxyEdge Lite are fully compliant with new Securities and Exchange Commission (SEC) disclosure requirements.

The new regulations require firms to disclose proxy voting policies and procedures and make available to clients a record of how they voted proxies relating to portfolio securities. In addition, firms are required to file voting records with the SEC annually.

ADP says ProxyEdge allows users to maintain both voting guidelines and comments and contains integrated reporting functionality consistent with the SEC reporting requirements.

The Web-based ProxyEdge Lite product now also supports vote disclosure and contains reporting functionality that provides a summary of historical voting information, including user defined vote comments.

Bob Schifellite, senior vice president, ADP Investor Communication Services, says: "Today, over 1000 institutions and fund managers rely on our ProxyEdge products for electronic receipt of proxy agenda information and electronic voting and reporting."

The vendor says it plans to continue researching and developing enhancements, via a ProxyEdge user committee, to provide clients with other measures for regulatory compliance.

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