SIFMA Issues Letter Describing Internal Processes and Resources to Proxy Operations

SIFMA issued a letter in response to a request by NYSE Euronext to provide additional information on the internal process and resources brokers dedicate to proxy operations. The letter builds on a document submitted by SIFMA whose focus was the costs of proxy processing, whereas this document focuses on the processes and operational tasks. SIFMA hopes to demonstrate through this document that broker-dealers utilize a broad range of internal processes and resources to support proxy distribution, and that these services are expensive to maintain.

See: SIFMA Letter.