Equity Edge 6 Software Supports FAS 123(R) Compliance, Reduces Ongoing
Sarbanes-Oxley Compliance Costs, and Addresses the Emergence of Alternative
Equity Compensation Vehicles
NEW YORK, May 2 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) today announced the availability of Equity Edge 6 at Directions
2005, its annual stock plan industry conference being held in Orlando, Fla.,
this week. Equity Edge 6 is the latest release of its stock plan management
and reporting software. E*TRADE FINANCIAL Corporate Services, a leading
provider of employee stock plan solutions, developed Equity Edge 6 for
employers to help facilitate their compliance with FAS 123(R), and as a way to
reduce their risk and ongoing Sarbanes-Oxley compliance costs with accurate,
flexible, and auditable reporting. It also provides deeper, more streamlined
support for companies moving toward restricted stock as an alternative to
stock options.
With the Financial Accounting Standards Board's (FASB) final expensing
standard, FAS 123(R), in effect starting in June 15, 2005, companies are
seeking a solution that addresses today's complex equity compensation
requirements. Equity Edge 6 provides companies with a comprehensive solution
for their compliance, valuation, and reporting needs:
"E*TRADE FINANCIAL Corporate Services has long been an advocate of its
customers, supporting them through a changing regulatory environment by
increasing the breadth of solutions," said Michael Curcio, executive vice
president of Retail Brokerage, E*TRADE Securities LLC. "Managing compliance
risk and reducing liability is top-of-mind for these companies, and Equity
Edge 6 helps them navigate the complex landscape of equity-based compensation
in light of new rules and requirements."
E*TRADE FINANCIAL Corporate Services provides complete stock plan
administration and risk-reduction compliance solutions to more than 2,100
corporate clients and 1.3 million stock plan participants. E*TRADE
FINANCIAL's team of equity compensation experts manage company stock plans,
enabling global employees to easily understand, access and manage their stock
plan benefits. In addition, E*TRADE FINANCIAL empowers executives, managers
and employees to capitalize on their stock plan wealth.
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provides financial services
including investing, trading, banking and lending for retail and institutional
customers. Securities products and services are offered by E*TRADE Securities
LLC (Member NASD/SIPC). Bank and lending products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.
Important Notice
E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo are registered trademarks
or trademarks of E*TRADE FINANCIAL Corporation. The statements contained in
this news release that are forward-looking are based on current expectations
that are subject to a number of uncertainties and risks, and actual results
may differ materially. The uncertainties and risks include, but are not
limited to, changes in market activity, anticipated increases in the rate of
new customer acquisition, the conversion of new visitors to the site to
customers, the activity of customers and assets held at the institution,
seasonality, the development and enhancement of products and services,
competitive pressures (including price competition), system failures, economic
and political conditions, changes in consumer behavior and the introduction of
competing products having technological and/or other advantages. Further
information about these risks and uncertainties can be found in the
information included in the annual reports previously filed by E*TRADE Group,
Inc. or E*TRADE FINANCIAL Corporation with the SEC on Form 10-K (including
information under the caption "Risk Factors") and quarterly reports on Form
10-Q.
E*TRADE FINANCIAL Media Contact
Pam Erickson
E*TRADE FINANCIAL Corporation
617-296-6080
pam.erickson@etrade.com
E*TRADE FINANCIAL Investor Relations Contact
Adam Townsend
E*TRADE FINANCIAL Corporation
703-236-8719
adam.townsend@etrade.com
SOURCE E*TRADE FINANCIAL Corporation
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Related links:
http://www.etrade.com
CONTACT:
media, Pam Erickson, +1-617-296-6080, or
pam.erickson@etrade.com, or investor relations, Adam Townsend,
+1-703-236-8719, or adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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