Coporate Actions

Course details

The world of Corporate Actions is generally regarded within financial institutions as a mystery area requiring specialist knowledge in order to comprehend what lies beneath. In reality, like many other aspects of securities processing, corporate actions work to a set of logical rules which, if followed, will result in controlled and risk-free processing.

Learning Outcomes

• Understand the reasons for corporate actions (both equity and debt)
• Look at the sequential steps in processing corporate actions
• Cover the various risks, risk mitigation and processing efficiency of corporate actions

Who Should Attend

This course is designed as an introduction to corporate actions, and is suitable for those that are familiar with the securities trade lifecycle who wish to understand the more challenging aspects of the securities business.

Students may claim 12 hours CPD credit for their attendance of the whole course.

Course Content

Definition and Purpose of Corporate Actions

• Characteristics of equities
• Characteristics of bonds
• Company meetings / voting

Types of Corporate Action

• Mandatory
• Mandatory with options
• Voluntary

Descriptions of the Main Types of Equity Corporate Action

pidends including cum-p, ex-p, record date, payment, scrip pidends

• Rights Issues including calculations
• Bonus / Scrip Issues
• Share splits
• Takeovers

Descriptions of the Main Types of Bond Corporate Action

• Maturity
• Rating change
• Callable and puttable bonds

Life Cycle of a Corporate Actions Event

• Dates
• Steps in the process
• Participants in the process
• Typical timetables

The Corporate Actions Department

• Structure
• Who does what?