"Following an extensive evaluation of service providers, we chose GainsKeeper because it delivers the most extensive and centralized broad-based automated cost basis services," said Laura Shiflett, vice president of Customer Reporting at Jefferies. "This will give us the flexibility to ensure accurate Form 1099-B reporting and help solve for the increasingly heavy reporting burden so we can focus on meeting all the needs of our customers."

"Effective cost basis reporting compliance requires a significant commitment from an organization," said Jim Richardson, director of Investment Compliance Solutions at Wolters Kluwer Financial Services. "It is important for us to provide our clients with an end-to-end solution to avoid the potential data quality and workflow issues inherent in multiple-vendor systems."