Series 7: 17.5.3.1.5. Corporate Action Department

Taken from our Series 7 Online Guide

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 control processes

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