A JPMorgan news release said the Web-based system gets materials out faster, is easier to use, and eliminates the distribution of thousands of paper documents annually. Investors get access to a set of shareholder communications related to corporate action events for US and Canadian securities, the announcement said.
According to the announcement, the shareholder communication documents will be scanned by ADP and posted to its Reorg Library within 24 hours of receipt. The system sends an e-mail alert that allows clients to click on an Internet link to view the shareholder information.
“Electronic publishing and distribution of corporate action materials provides institutional investors with the most advanced technology available to optimize efficiency,” said Diane Babich, Vice President and Global Custody Product Manager at JPMorgan Worldwide Securities Services, in the announcement. “The new system eliminates the expense and delays associated with paper mailing of prospectuses, and provides a quick and easy way to meet our regulatory requirements.”