A platform for XBRL tagging and EDGAR filing will be integrated with Broadridge’s regulatory solutions.
Broadridge Financial Solutions will be expanding its range of services for regulatory filings and disclosure for public companies and funds with the acquisition of provider CompSci Resources, maker of a Web-based, collaborative platform for SEC disclosure preparation, officials say.
CompSci’s Transform platform for eXtensible Business Reporting Language (XBRL) tagging and Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system filing, which offers managed and self-service capabilities, will be integrated with Broadridge’s offerings, officials say.
Broadridge’s offerings include solutions for shareholder meetings and proxy, corporate governance and shareholder engagement, and stock transfer agency.
The CompSci platform “automates the disclosure preparation process, features A.I.-assisted XBRL tagging, and enables seamless collaboration among geographically dispersed work teams,” according to the announcement.
“Further, the technology allows the process to move from Word and Excel documents to web-enabled and self-serve methods. It can be leveraged to manage filings independently using a self-service approach or can be used as a hybrid solution with support from Broadridge’s expert service teams,” officials say.
“We are modernizing the regulatory disclosure process with advanced technology to enable public companies and funds to have more direct control of their SEC filings,” says Mike Tae, co-president of Investor Communication Solutions at Broadridge in a prepared statement.
CompSci and Broadridge have a “shared focus on simplifying the corporate governance process for public companies and funds,” says Ron Lord, chief operating officer (COO) at CompSci, in a prepared statement.
“The transaction is not expected to have a material impact on Broadridge’s financial results,” according to Broadridge, which did not disclose the terms of the transaction.
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