Series 99: 3.2.4.5 Corporate Action Department

Taken from our Series 99 Top-off Online Guide

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

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