Who is calling your back office?

*This email is meant for individuals employed at Buy Side Firms Only*

Dear Buy Side Members,

On behalf of the STA Buy Side Advisory Committee we have three (3) items that we would like to bring to your attention.

First, we continue to raise awareness among our membership of a business practice by third party vendors who service investor relation programs. This practice involves phone calls or emails to back offices of asset management firms requesting holdings information. The vendor will normally provide an authorization letter on behalf of the issuer and may present themselves as conducting a shareholder audit. To help you understand this practice we have provided a letter that you may also circulate within your respective firm to determine what, if any steps, you feel are appropriate. Please feel free to reach out to the STA office with any inquiries.

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