Series 7: 17.5.3.1.5 Corporate Action Department

Taken from our Series 7 Top-off 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 co

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