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This one-day program provides an intensive overview of major corporate action event types for equity and fixed income securities, how they are processed and industry best practices for managing risk and controlling costs.Major corporate action event types are explained, along with the motives of issuers and investors, and the conditions that trigger an event.
Course participants gain an understanding not only of the process flows required for corporate actions in US and international markets, but also of the potential gaps and exposures that create operational risk and the potential for losses.Interdependencies among entities such as investment managers, custodians, fund administrators, clearing houses and depositories are included. The impact of corporate actions on the front-office, securities lending, derivatives and settlements is also discussed.
The program content promotes discussion of corporate action case studies with real-life “war stories”, the risks involved, and how these risks are managed with control steps and procedures. Participants will engage in discussion about the current state of corporate actions event processing and the challenges presented by resource-intensive data management issues, communication among all parties to an event, and global securities markets with sometimes discordant requirements.
Course Objectives
By the end of the course, participants will be able to:
- Identify the various types of Corporate Actions
- Describe the process flow from announcement to reconciliation
- Compare participants’ role in the process
- Analyze the characteristics of Mandatory and Voluntary Corporate Actions
- Identify the risk probabilities and the sources of risk
Suggested Prerequisites: None
Program Level:Foundational
Advance Preparation: None
Computers and Financial Calculators: N/A
Recommended CPE Credits: 7