Course Code: 404

Duration: 1 day

Level: Basic

Fee: $795.00

Instructor: John Wagner

CPE Credits: 7

Prerequisite: No Prerequisite Required.

This seminar presents to the participants an in-depth review of the risks, nuances, and processing issues associated with Global Corporate Actions. We will concentrate on core corporate actions and the processing risk associated with the management and control of specific corporate event types, e.g.: Takeovers, Mergers, Stock Optional Dividends, and Rights Issues. We will examine some of the routine processing errors made during the life of a corporate action. We will review specific event types and the routine errors made, and discuss suggestions on how to mitigate the risk associated with the life cycle of an event. We will define and discuss the life cycle of Corporate Actions from announcement at source through all of the points of control that it passes. We also examine the potential risk associated with each link in the life cycle.

The course will include a guest presentation from a Global Custodian, providing and overview of how they manage and control corporate action events, and will conclude with an in-depth review of Market Practices.

Overview and Definitions; Terms and Entitlements

Agent Cut Off Date

The Life Cycle of a Corporate Action Event

Stock Optional Entitlements with Coupons

Special Handling / Exception Processing

Bonus Issues Versus Stock Dividends

Contrasting Trade and Settlement Cycles

Dual Settled Versus Dual Trading

The Roles of Your Sub-Custodian and Agent Bank

Complex Corporate Actions: Multi Currency and Market Entitlements

Market Specific Regulatory Issues, Announcements and Restrictions

Guest Presentation from a Global Custodian

In-depth Market Analysis