Dion Global Solutions, technology partner to the financial services industry, has reported that Hargreave Hale has gone live with its Corporate Action Workflow solution. The solution automates the identification, management and notification of corporate actions, ensuring that the firm and its clients are able to act upon key events, such as takeover deals and allocation of further shares, in a timely and appropriate manner.
The deployment comes amid continued attention from regulators around all aspects of operational risk. This includes the latest rules from the Financial Conduct Authority (FCA), which deems the failure to notify clients about corporate actions as unfair under the Treating Customers Fairly (TCF) initiative.
Dion's solution allows firms to easily identify the clients that are affected by corporate actions and act accordingly. This improves efficiency while mitigating the risks associated with failing to act upon the corporate events that affect clients of wealth managers and stockbrokers. The hosted platform seamlessly integrates with any front and the back office, increasing visibility of client holdings and removing all manual processes, including reporting and updates to books and records.