Proxy Department is the department in a brokerage firm that is responsible for forwarding proxies and financial information to investors whose stock is held in street name.
Proxy Departments must promptly send to investors all required information relating to the issuer of securities which are distributed to the brokerage firm for securities being held in street name. The issuer of securities who are distributing the proxies and related material must reimburse the broker dealer for reasonable postage and handling expenses relating to the distribution of proxies.
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