Series 99: 3.2.4.5 Corporate Action Department

3.2.4.5  Corporate Action Department

(These also may be divided into Reorg and Dividends Departments.)

• • Handles consequences of corporate actions
• • Manages dividend payments
• • Changes the number of customers’ shares after a stock split
• • Mails proxy information
• • Transfers customers’ shares to new company after a merger

Within the back office, functions should be segregated so that no staff member can move cash or assets on their own and so that