CIBC Mellon and Financial Recovery Technologies Announce Simplified and Expanded Securities Class Action Recovery for Canadian Institutional Investors

TORONTO, May 17, 2022 /CNW/ – CIBC Mellon today announced a new partnership with Financial Recovery Technologies (FRT), a leading provider of collective recovery services for the financial community. Through this partnership with FRT, Canadian institutional investors will benefit from enhanced management, collection and shareholder litigation solutions that will help them understand the complexities of class actions in a wide range of market jurisdictions. CIBC Mellon and FRT have worked together to establish processes and streamline service coordination between organizations and their clients.

“We are pleased to provide our clients who own international securities with Financial Recovery Technologies automated solutions for monitoring and resolving disputes between shareholders,” the message says. Ronald S. Landry, director of product and service management for Canadian ETFs, CIBC Mellon. Class-based securities claims are becoming more complex globally and the ability to work with FRT will provide clients with automated solutions and advanced analytics designed to adapt to the growing complexity of the industry. This will be facilitated by streamlined service provider coordination between FRT and CIBC Mellon. »

“Through this strategic partnership, CIBC Mellon clients can now benefit from FRT’s robust securities class action recovery solutions that cover a wide range of global markets and disputes such as antitrust claims, it is alleged. Rob Adler, General Director of “Technology of financial recovery”. More and more custodians like CIBC Mellon are realizing that their clients need global class action oversight, operational experience to maximize recovery and advice to stay on top of industry trends. Our solution is designed to meet these needs, and through our data collaboration, we will ensure a seamless integration and service delivery process.”

“The Asset Management Market and the Growth of Responsible Investment Funds in Canada expanding rapidly, said Rob Rind, vice president, global head of partnerships and alliances at Financial Recovery Technologies. Companies working with CIBC Mellon will now have more choice and be able to choose the solution that best suits their needs while strengthening their governance structure. »

Securities class claims are becoming more complex and the strategic partnership between CIBC Mellon and Financial Recovery Technologies allows our clients to benefit from services in multiple jurisdictions, benefit from operational efficiency and access to actionable information and maximize class recovery impartially. valuable papers. actions.

About financial recovery technologies

Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology services firm that helps the investment community determine eligibility, file claims, and raise funds provided in the form of movable property to resolve securities class actions. Offering the widest range of claims submission and monitoring services in the market, we offer the best eligibility analysis and payout verification, as well as the best reports for clients. We do this with the utmost honesty, responsibility and transparency. Financial Recovery Technologies is a company of the Cross Country Group (http://www.ccgroup.com). For more information please visit the website www.frtservices.com.

About CIBC Mellon

CIBC Mellon is a Canadian company whose mission is solely to meet the investment services needs of Canadian institutional investors and foreign institutional investors who have chosen Canada. CIBC Mellon, founded in 1996, is equally owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon provides investment services to institutions and corporations by working closely with its parent companies. These solutions include custodial, multi-currency, fund management, record keeping, pension funds, exchange-traded funds, securities lending, foreign exchange processing and settlement, and treasury services. As of March 31, 2022, CIBC Mellon managed over $2.5 trillion in assets on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, funds and global financial institutions whose clients invest in Canada. CIBC Mellon is a member of the BNY Mellon global network, which, as of March 31, 2022, had $45.5 trillion in assets held or managed. CIBC Mellon is an authorized user of the CIBC trademark and certain BNY Mellon trademarks. CIBC Mellon is a trademark of CIBC Mellon Trust Company and CIBC Mellon Global Securities Services Company and may be used as a generic term for one or both companies. www.cibcmellon.com

Media contacts:

CIBC Mellon: Alexandra DeCata, Corporate Communications, 416-643-6126, [email protected]

FRT: Jennifer RothenbergVP of Marketing, 339 674-1608, [email protected]

SOURCECIBC Mellon

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