BNP Paribas’ Securities Services business has selected Broadridge Financial Solutions to handle its global securities class action services. The partnership aims to improve the identification and filing of claims, helping BNP Paribas’ clients recover investment losses more effectively, writes Broadridge in a press release.
With $13.7 trillion in assets under custody, BNP Paribas’ Securities Services business plays a key role in post-trade operations. As securities class actions increase worldwide, institutional investors face a complex landscape of settlement opportunities. In 2024 alone, over 125 recovery cases resulted in $5.2 billion in settlements across more than 35 jurisdictions. Managing these claims efficiently requires specialised technology and expertise.
Broadridge provides an automated system for tracking and processing class action claims. The company’s proprietary platform is designed to streamline the filing process and support investors in recovering losses. According to BNP Paribas, integrating this service will allow its clients to better navigate global litigation complexities.
Class actions in a changing market
The rise of collective redress mechanisms in multiple jurisdictions has made asset recovery an increasingly important part of institutional investment strategies. Market participants need to monitor cases across different legal systems, each with its own procedures and deadlines.
“As the volume of securities class actions continues to rise, it’s crucial for the clients of BNP Paribas’ Securities Services business and other global financial institutions to leverage all available asset recovery opportunities,” said Steve Cirami, Vice President, Head of Corporate Actions & Class Actions at Broadridge.
