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 control processes