SIFMA Outlines Broker-Dealer Functions Supporting Proxy Distributions

SIFMA provides a narrative on the broker-dealer functions supporting proxy distributions. The activities of broker-dealers to support proxy services can be broadly classified into 5 main categories:

1. Preference management
2. Infrastructure / Vendor Data Exchange
3. Oversight / Supervision
4. Client Service
5. Record Retention

While these are the core categories of functions, broker-dealers deliver varying levels of service to their clients, based on their size and operating model, to name two of many variables. SIFMA shares an illustrative view of firm activities around proxy processing, which attempts to summarize general practices grouped according to the above functions.