Series 7: 17.5.3.1.5 Corporate Action Department

17.5.3.1.5  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 her own and so that co