{"product_id":"corporate-actions-9780470870662","title":"Corporate Actions","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eCorporate actions are events that affect large corporations through to the individual investor - even those that own a single-share! All organizations that hold equity and debt securities for themselves and\/or on behalf of others are affected when the issuer of a security announces an income or corporate action event.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eIntroduction xvii\u003c\/p\u003e \u003cp\u003eAcknowledgements xxi\u003c\/p\u003e \u003cp\u003eAbout the Authors xxiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Introductory Elements 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Basic Corporate Action Concepts 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Introduction 3\u003c\/p\u003e \u003cp\u003e1.2 Definition of Corporate Actions 3\u003c\/p\u003e \u003cp\u003e1.3 Purpose of Corporate Actions 3\u003c\/p\u003e \u003cp\u003e1.4 Impact of Corporate Actions 5\u003c\/p\u003e \u003cp\u003e1.5 The Lifecycle of a Corporate Action 6\u003c\/p\u003e \u003cp\u003e1.6 Summary 8\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Event Description and Classification 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Introduction 9\u003c\/p\u003e \u003cp\u003e2.2 Event Descriptions 9\u003c\/p\u003e \u003cp\u003e2.3 Event Classification 19\u003c\/p\u003e \u003cp\u003e2.4 Event Combinations 20\u003c\/p\u003e \u003cp\u003e2.5 Event Variations and Terminology 22\u003c\/p\u003e \u003cp\u003e2.6 Summary 22\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 The Securities (and Corporate Actions) Market Place 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Introduction 23\u003c\/p\u003e \u003cp\u003e3.2 The Securities Market Place – Overview 23\u003c\/p\u003e \u003cp\u003e3.3 Participants – The Corporate Actions Perspective 31\u003c\/p\u003e \u003cp\u003e3.4 Summary 36\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Static Data 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Introduction 37\u003c\/p\u003e \u003cp\u003e4.2 Securities Static Data 37\u003c\/p\u003e \u003cp\u003e4.3 Participant Static Data 41\u003c\/p\u003e \u003cp\u003e4.4 Sources and Maintenance of Static Data 45\u003c\/p\u003e \u003cp\u003e4.5 Summary 47\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Securities Position Management 49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Introduction 49\u003c\/p\u003e \u003cp\u003e5.2 The STO’S Risk 49\u003c\/p\u003e \u003cp\u003e5.3 Fundamentals of Securities Position Management 50\u003c\/p\u003e \u003cp\u003e5.4 Generic Securities Accounting Principles 52\u003c\/p\u003e \u003cp\u003e5.5 Extended Securities Position Management 53\u003c\/p\u003e \u003cp\u003e5.6 Disparate Trade and Position Records 54\u003c\/p\u003e \u003cp\u003e5.7 Reconciliation 54\u003c\/p\u003e \u003cp\u003e5.8 Summary 55\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Mandatory Events 57\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Overview of the Generic Corporate Action Lifecycle 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Introduction 59\u003c\/p\u003e \u003cp\u003e6.2 Issuer Communicates Event Data 60\u003c\/p\u003e \u003cp\u003e6.3 Event Terms Capture and Cleansing 60\u003c\/p\u003e \u003cp\u003e6.4 Determining Entitlement 60\u003c\/p\u003e \u003cp\u003e6.5 Communication of Event Information 60\u003c\/p\u003e \u003cp\u003e6.6 Calculation of Resultant Entitlements 60\u003c\/p\u003e \u003cp\u003e6.7 Passing of Internal Entries 61\u003c\/p\u003e \u003cp\u003e6.8 Collection and Disbursement of Resultant Entitlements 61\u003c\/p\u003e \u003cp\u003e6.9 Updating of Internal Entries 61\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Straight Through Processing 63\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Introduction 63\u003c\/p\u003e \u003cp\u003e7.2 STP and Corporate Actions 64\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Event Terms Capture and Cleansing 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Introduction 67\u003c\/p\u003e \u003cp\u003e8.2 Event Terms 68\u003c\/p\u003e \u003cp\u003e8.3 Sources of Event Terms 72\u003c\/p\u003e \u003cp\u003e8.4 Availability of Event Terms 73\u003c\/p\u003e \u003cp\u003e8.5 Cleansing of Event Terms 74\u003c\/p\u003e \u003cp\u003e8.6 When to Apply Event Terms 76\u003c\/p\u003e \u003cp\u003e8.7 Managing Changes to Event Terms Throughout the Lifecycle 76\u003c\/p\u003e \u003cp\u003e8.8 Summary 77\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Determining Entitlement 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Introduction 79\u003c\/p\u003e \u003cp\u003e9.2 The STO’s Risk 80\u003c\/p\u003e \u003cp\u003e9.3 Types of Entitled Positions (Including Unsettled Trades) 80\u003c\/p\u003e \u003cp\u003e9.4 Links Between Ownership Positions and Location Positions 84\u003c\/p\u003e \u003cp\u003e9.5 Equity Event Entitlement Business Principles 84\u003c\/p\u003e \u003cp\u003e9.6 Equity Event – Itemized Trading and Settlement Scenarios 92\u003c\/p\u003e \u003cp\u003e9.7 Bonds Event Entitlement Business Principles 94\u003c\/p\u003e \u003cp\u003e9.8 Applying the Business Principles in Practice 97\u003c\/p\u003e \u003cp\u003e9.9 Balancing of Positions and Unsettled Trades 105\u003c\/p\u003e \u003cp\u003e9.10 Reconciliation of Positions and Unsettled Trades 109\u003c\/p\u003e \u003cp\u003e9.11 Summary 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Communication of Event Information 113\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 Introduction 113\u003c\/p\u003e \u003cp\u003e10.2 The STO’s Risk 114\u003c\/p\u003e \u003cp\u003e10.3 Communicating with Position Holders 114\u003c\/p\u003e \u003cp\u003e10.4 Communicating with Interested Parties 120\u003c\/p\u003e \u003cp\u003e10.5 Summary 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Calculation of Resultant Entitlements 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 Introduction 123\u003c\/p\u003e \u003cp\u003e11.2 The STO’s Risk 124\u003c\/p\u003e \u003cp\u003e11.3 Calculation of Resultant Cash Entitlements 125\u003c\/p\u003e \u003cp\u003e11.4 Calculation of Resultant Securities Entitlements 126\u003c\/p\u003e \u003cp\u003e11.5 Calculation of Resultant Entitlements Against Ownership Positions 130\u003c\/p\u003e \u003cp\u003e11.6 Balancing Resultant Entitlements 132\u003c\/p\u003e \u003cp\u003e11.7 Reconciliation of Resultant Entitlements 134\u003c\/p\u003e \u003cp\u003e11.8 Determination of Collectible and Disbursable Accounts 136\u003c\/p\u003e \u003cp\u003e11.9 Summary 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Passing of Internal Entries 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12.1 Introduction 139\u003c\/p\u003e \u003cp\u003e12.2 The STO’s Risk 139\u003c\/p\u003e \u003cp\u003e12.3 Mechanisms for Passing Internal Entries 140\u003c\/p\u003e \u003cp\u003e12.4 Types of Internal Entries 141\u003c\/p\u003e \u003cp\u003e12.5 Review of Required Internal Entries 149\u003c\/p\u003e \u003cp\u003e12.6 Summary 150\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Collection\/Disbursement of Resultant Entitlements 151\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13.1 Introduction 151\u003c\/p\u003e \u003cp\u003e13.2 The STO’s Risk 152\u003c\/p\u003e \u003cp\u003e13.3 Collection of Resultant Entitlements from the Custodian 153\u003c\/p\u003e \u003cp\u003e13.4 Disbursement of Resultant Entitlements to Position Holders 154\u003c\/p\u003e \u003cp\u003e13.5 Settlement of Claims 157\u003c\/p\u003e \u003cp\u003e13.6 Write-Offs 160\u003c\/p\u003e \u003cp\u003e13.7 Summary 160\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 Updating of Internal Entries 161\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e14.1 Introduction 161\u003c\/p\u003e \u003cp\u003e14.2 The STO’s Risk 161\u003c\/p\u003e \u003cp\u003e14.3 Mechanisms for Passing Internal Entries 162\u003c\/p\u003e \u003cp\u003e14.4 Settlement Date Entries 162\u003c\/p\u003e \u003cp\u003e14.5 Settlement of Claims and Transformations 166\u003c\/p\u003e \u003cp\u003e14.6 Summary 166\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15 Examples of Mandatory Events 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e15.1 Introduction 167\u003c\/p\u003e \u003cp\u003e15.2 Bonus Issue 167\u003c\/p\u003e \u003cp\u003e15.3 Share Split 174\u003c\/p\u003e \u003cp\u003e15.4 Bond Maturity 179\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Events with Elections 185\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e16 Concepts of Events with Elections 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e16.1 Introduction 187\u003c\/p\u003e \u003cp\u003e16.2 The STO’s Risk 188\u003c\/p\u003e \u003cp\u003e16.3 Impact of Events with Elections 188\u003c\/p\u003e \u003cp\u003e16.4 Events with Elections Lifecycle 190\u003c\/p\u003e \u003cp\u003e16.5 Summary 191\u003c\/p\u003e \u003cp\u003e\u003cb\u003e17 Management of Mandatory with Options Events 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e17.1 Introduction 193\u003c\/p\u003e \u003cp\u003e17.2 Mandatory with Options Event Terms 194\u003c\/p\u003e \u003cp\u003e17.3 Determining Entitlement to Mandatory with Options Events 196\u003c\/p\u003e \u003cp\u003e17.4 Communication of Mandatory with Options Event Information 196\u003c\/p\u003e \u003cp\u003e17.5 Receipt of Election Decisions 198\u003c\/p\u003e \u003cp\u003e17.6 Recording and Validating Received Election Decisions 200\u003c\/p\u003e \u003cp\u003e17.7 Managing Overdue Election Decisions 202\u003c\/p\u003e \u003cp\u003e17.8 Issue of Election Decisions 203\u003c\/p\u003e \u003cp\u003e17.9 Over-Elections 209\u003c\/p\u003e \u003cp\u003e17.10 Calculation of Resultant Entitlements 211\u003c\/p\u003e \u003cp\u003e17.11 Passing of Internal Entries 214\u003c\/p\u003e \u003cp\u003e17.12 Collection and Disbursement of Resultant Entitlements 217\u003c\/p\u003e \u003cp\u003e17.13 Updating of Internal Entries 217\u003c\/p\u003e \u003cp\u003e17.14 Summary 217\u003c\/p\u003e \u003cp\u003e\u003cb\u003e18 Management of Voluntary Events 219\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e18.1 Introduction 219\u003c\/p\u003e \u003cp\u003e18.2 Voluntary Event Terms 220\u003c\/p\u003e \u003cp\u003e18.3 Determining Entitlement to Voluntary Events 221\u003c\/p\u003e \u003cp\u003e18.4 Communication of Voluntary Event Information 222\u003c\/p\u003e \u003cp\u003e18.5 Receipt of Election Decisions 222\u003c\/p\u003e \u003cp\u003e18.6 Recording and Validating Received Election Decisions 223\u003c\/p\u003e \u003cp\u003e18.7 Managing Overdue Election Decisions 224\u003c\/p\u003e \u003cp\u003e18.8 Issue of Election Decisions 225\u003c\/p\u003e \u003cp\u003e18.9 Over-elections 225\u003c\/p\u003e \u003cp\u003e18.10 Calculation of Resultant Entitlements 225\u003c\/p\u003e \u003cp\u003e18.11 Passing of Internal Entries 227\u003c\/p\u003e \u003cp\u003e18.12 Collection and Disbursement of Resultant Entitlements 231\u003c\/p\u003e \u003cp\u003e18.13 Updating of Internal Entries 231\u003c\/p\u003e \u003cp\u003e18.14 Summary 231\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV Multi-stage Events 233\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e19 Concepts of Multi-Stage Events 235\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e19.1 Introduction 235\u003c\/p\u003e \u003cp\u003e19.2 The Life of a Multi-stage Event 235\u003c\/p\u003e \u003cp\u003e19.3 The STO’s Risk 239\u003c\/p\u003e \u003cp\u003e19.4 Impact of Multi-stage Events 239\u003c\/p\u003e \u003cp\u003e19.5 Lifecycle Elements of the Multi-stage Event 241\u003c\/p\u003e \u003cp\u003e19.6 Summary 246\u003c\/p\u003e \u003cp\u003e\u003cb\u003e20 Management of a Rights Issue 247\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e20.1 Introduction 247\u003c\/p\u003e \u003cp\u003e20.2 The Operational Life of a Rights Issue 247\u003c\/p\u003e \u003cp\u003e20.3 Rights Issue Event Terms 248\u003c\/p\u003e \u003cp\u003e20.4 Nil Paid Rights Distribution 250\u003c\/p\u003e \u003cp\u003e20.5 Nil Paid Rights Subscription 253\u003c\/p\u003e \u003cp\u003e20.6 Un-subscribed Nil Paid Rights Expiry 258\u003c\/p\u003e \u003cp\u003e20.7 Summary 259\u003c\/p\u003e \u003cp\u003e\u003cb\u003e21 Example of a Rights Issue 261\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e21.1 Introduction 261\u003c\/p\u003e \u003cp\u003e21.2 Event Terms 261\u003c\/p\u003e \u003cp\u003e21.3 Nil Paid Rights Distribution 262\u003c\/p\u003e \u003cp\u003e21.4 Nil Paid Rights Trading 266\u003c\/p\u003e \u003cp\u003e21.5 Nil Paid Rights Subscription 266\u003c\/p\u003e \u003cp\u003e21.6 Unsubscribed Nil Paid Rights Expiry 272\u003c\/p\u003e \u003cp\u003e21.7 Final Securities Positions 273\u003c\/p\u003e \u003cp\u003e\u003cb\u003e22 Concepts of Takeover Events 275\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e22.1 Introduction 275\u003c\/p\u003e \u003cp\u003e22.2 The STO’s Risk 276\u003c\/p\u003e \u003cp\u003e22.3 Features of Takeovers 276\u003c\/p\u003e \u003cp\u003e22.4 Impact of Takeover Events 281\u003c\/p\u003e \u003cp\u003e22.5 Takeover Event Lifecycle 284\u003c\/p\u003e \u003cp\u003e22.6 Summary 284\u003c\/p\u003e \u003cp\u003e\u003cb\u003e23 Management of Takeover Events 285\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e23.1 Takeover Event Terms 285\u003c\/p\u003e \u003cp\u003e23.2 Determining Entitlement to Takeover Events 288\u003c\/p\u003e \u003cp\u003e23.3 Communication of Event Information 289\u003c\/p\u003e \u003cp\u003e23.4 Management of Election Decisions 290\u003c\/p\u003e \u003cp\u003e23.5 Managing Unsuccessful Takeovers 291\u003c\/p\u003e \u003cp\u003e23.6 Over-Acceptances 291\u003c\/p\u003e \u003cp\u003e23.7 Calculation of Resultant Entitlements 293\u003c\/p\u003e \u003cp\u003e23.8 Passing of Internal Entries 296\u003c\/p\u003e \u003cp\u003e23.9 Collection and Disbursement of Resultant Entitlements 297\u003c\/p\u003e \u003cp\u003e23.10 Updating of Internal Entries 298\u003c\/p\u003e \u003cp\u003e23.11 Summary 298\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart V Taxation 299\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e24 Concepts and Management of Taxation 301\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e24.1 Introduction 301\u003c\/p\u003e \u003cp\u003e24.2 Taxable and Non-Taxable Events 301\u003c\/p\u003e \u003cp\u003e24.3 Introduction to Capital Gains Tax and Income Tax 302\u003c\/p\u003e \u003cp\u003e24.4 The STO’s Risk 305\u003c\/p\u003e \u003cp\u003e24.5 Summary 305\u003c\/p\u003e \u003cp\u003e\u003cb\u003e25 Management of Income Tax 307\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e25.1 Introduction 307\u003c\/p\u003e \u003cp\u003e25.2 Gross Income 308\u003c\/p\u003e \u003cp\u003e25.3 Foreign Witholding Tax 309\u003c\/p\u003e \u003cp\u003e25.4 Net Income After Deduction of Foreign Withholding Tax 310\u003c\/p\u003e \u003cp\u003e25.5 Position Holder’s Domestic Income Tax 310\u003c\/p\u003e \u003cp\u003e25.6 Net Income After Deduction of Foreign Withholding Tax and Position Holder’s Domestic Income Tax 313\u003c\/p\u003e \u003cp\u003e25.7 Determining Tax Rates for Position Holders 318\u003c\/p\u003e \u003cp\u003e25.8 Ensuring Correct Withholding Tax is Deducted by the Location 321\u003c\/p\u003e \u003cp\u003e25.9 The STO as Collector of Taxes 322\u003c\/p\u003e \u003cp\u003e25.10 Tax Reclaims and Tax Rebates 323\u003c\/p\u003e \u003cp\u003e25.11 Communicating Income and Tax Details 326\u003c\/p\u003e \u003cp\u003e25.12 Summary 329\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart VI Issuer Notices 331\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e26 Concepts and Management of Issuer Notices 333\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e26.1 Introduction 333\u003c\/p\u003e \u003cp\u003e26.2 The STO’s Risk 333\u003c\/p\u003e \u003cp\u003e26.3 Information Only Events 334\u003c\/p\u003e \u003cp\u003e26.4 Issuer Meetings with Proxy Voting Events 335\u003c\/p\u003e \u003cp\u003e26.5 Summary 339\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart VII Objectives and Initiatives 341\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e27 Objectives and Initiatives 343\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e27.1 Introduction 343\u003c\/p\u003e \u003cp\u003e27.2 Objectives 343\u003c\/p\u003e \u003cp\u003e27.3 Initiatives to Achieve the Stated Objectives 345\u003c\/p\u003e \u003cp\u003e27.4 Challenges in Achieving the Stated Objectives 351\u003c\/p\u003e \u003cp\u003eGlossary of Terms 353\u003c\/p\u003e \u003cp\u003eIndex 383\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":48864640893271,"sku":"9780470870662","price":89.3,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780470870662.jpg?v=1722272853","url":"https:\/\/bookcurl.com\/products\/corporate-actions-9780470870662","provider":"Book Curl","version":"1.0","type":"link"}