Corporate Actions

dazzam

Active member
106 0
Hiya Chaps,

I have over 5 years Corporate Action experience within the stockbroking industry, dealing from straight forward Takeovers to Rights Issues and some of the more complex Schemes of Arrangements that occur on stocks on a regular occurence.

Just thought I would give you my details and if anybody ever needs to discuss anything or wants any guidance regarding the events then give me a shout and I will be only too happy to help out.
 

dazzam

Active member
106 0
As I have just had a question on this I thought I would bring this thread to the top again.
 

stevet

Established member
917 5
ok

whats a "Corporate Action " person do - exactly

and surely it should be "Corporate Inaction" to really represent the job specification!

p.s. thats a joke!

pps maybe not!
 

dazzam

Active member
106 0
He HE, blimey fella you must have had some experience of them.

Basically they are responsible for making sure that whatever action a listed company is undertaking is carried out for the underlying shareholders. eg. A company undertakes a Rights Issue and a shareholder has their shares held with xyz stockbroker it is the responsibilty of the Corporate Action department to pass that information out to the underlying shareholders. Detailing waht course of action the shareholder can take. This info is then received back from the customers and the information relayed back to the company. The CA deprtment then makes sure all the shares etc are received and distributed to customers.

A Corporate Action can vary from a simple name change to some of the more complex Schemes and Take Overs.

This is quite a simple explanation but if you think that basically everytime something is in the press about Cap Reorgs or Capital raising or Takeovers then it is the job of the CA department to handle. e.g. Canary Wharf and Corus are all undertaking Corporate Actions at the moment.
 

dazzam

Active member
106 0
The company that employs them. There is no money received from the companues that are having the CA's it is just a fact of life that if you are a stockbroker you have to provide a service for processing Corporate Actions.
 

stevet

Established member
917 5
lost me here - maybe i need to wake up?

are you talking about the corporate action department of a stockbroker, and that the information on latest actions of all publically traded companies is passed to all the customers of that stockbroking company

basically a news service specific to actions by the company of lets say a financially technical level for which the shareholders or potential shareholders should be aware?
 

wysinawyg

Active member
186 1
Steve,

I'm assuming we're essentially talking about where there is a nominee account at a decent broker, so the company doesn't have the names of its (beneficial) shareholders. As the better(/more expensive) ones still give you the ability to vote on things they need to make sure the documents which go out to direct shareholders go out to their clients who hold through a nominee account.

Dazaam,

I thought on your profile it said "legal compliance", which I always thought were primarily the annoying people who slow down your sharedealing :)

wysi
 

dazzam

Active member
106 0
Stevet, yes that is correct.

wysinawyg,

I am now in compliance but worked in Corporate Actions for 5 years.

We attempt not to be annoying but I understand what you are saying. My experience has the best of both worlds.
 

stevet

Established member
917 5
dazzam

never met anyone in compliance who then got excited about trading

because most companies with complicance departments tend to be the big and dont make anything trading or at any rate the compliance people see the real losses adding up and know the risks

but i personally think complicance people can make great traders as they understand risk and risk profiling

were you on the money side of complicance or legal
 

dazzam

Active member
106 0
Well you live and learn.

Compliance is different...I preferred the buzz of Corporate Actions more but you know we all need to get experience in this industry that is why I am working in Compliance for a few months to see what happens, not a long term thing though.

Anyway I am glad at last this thread has been useful. Keep posting if anybody needs nay help.
 

CityTrader

Established member
665 26
Corporate actions are an incredibly important middle office function of stock broking/trading. Worth their weight in gold.
 

Car Key Boi

Well-known member
396 8
dazzam said:
Hiya Chaps,

I have over 5 years Corporate Action experience within the stockbroking industry, dealing from straight forward Takeovers to Rights Issues and some of the more complex Schemes of Arrangements that occur on stocks on a regular occurence.

Just thought I would give you my details and if anybody ever needs to discuss anything or wants any guidance regarding the events then give me a shout and I will be only too happy to help out.

i have a question for yuo!

next time yuo get wind of a biggish take over blah, can yuo make a discreet post? something along the lines of "dazzam LOVES AOL Time Warner"

thax in advance :D

- Car Key Boi :cool:
 
 
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