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