Participating in a corporate action, float or proxy voting

You can use the corporate action calendar to participate in the corporate action based on a share that the client holds at record date. 

The corporate action calendar displays all active or open corporate actions and provides detailed information on the offer. You can see the status of the offer and if an online election is required.

The election status types are:

• No response – no election saved for the account
• Pending – the election is saved and pending authorisation
• Authorised – an election has been submitted and will be processed by our corporate actions team
• Lapse – client does not wish to participate
• Error – there is an error with the election, which must be corrected before the election can be saved/authorised.

We’ll let you know when an offer is open for elections. You’ll receive auto-generated reminders to alert you to a corporate action election is available for some of your clients.

Go to corporate actions calendar and see eligible clients:

1. Log in to Adviser Online
2. Select Transacting from the main side navigation panel
3. Select Corporate Actions
4. Select Corporate Actions Calendar from the options
5. Under the Client Action drop down menu, select View Eligible Clients.

A summary of the available election options will appear at the top of the page. You can choose to place bulk or individual elections. 

We must receive your instructions by 6pm AEST on the published Wrap close date of the action (the cut-off date), unless we specify otherwise. The close date is listed on the left-hand side of the corporate actions calendar.

If your client has insufficient cash to participate in the corporate action, they will have a status of ‘No response’. They can elect once they have sufficient funds in their account if prior to the Wrap close date. 

There is no option to make an election post the Wrap close date. By making an election, you have confirmed that you have read the documentation and communicated this with your client. 

Once an election is authorised, the client record is confirmed. We then forward your instructions to the share registry. Please note that online elections will be submitted as a final instruction to the issuing registry. No changes will be made.

You can use the floats and placement calendar when your client’s applying for a float (Initial Public Offering or IPO) via their external broker. To submit an application for an upcoming float or placement:

1. Log in to Adviser Online
2. Select Transacting from the main side navigation panel
3. Select Corporate Actions
4. Select Floats and Placements calendar from the options
5. If you can’t locate the relevant float or placement, select The float I want was not found from the bottom of the page
6. Select an adviser code and account type
7. Select Make a float or placement application
8. Enter the details for the float or placement.

All securities are subject to approval before it can be held on the platform. If the client wishes to request the stock to be reviewed and to participate in the offer, please contact Live Chat with the trade details. We must have the information of the trade details so that our custodian can settle the offer within the client’s Wrap account.

Wrap won't be able to settle the trade during normal settlement if submitted after cutoff. Please discuss with your broker and confirm with us in relation to deferred settlement.

If settlement of the security is via DVP (Delivery Versus Payment), applications must be received:

• 3 business days before  settlement date if the security has been approved
• 8 business days before settlement date if the security hasn’t been approved.

If settlement of the security is not via DVP, applications must be received:

• 8 business days before the earliest of the offer close or settlement date if the security hasn’t been approved
• 5 business days before the earliest of the offer close or settlement date if the security has been approved and settlement details are unknown at the time of the application
• 3 business days before the earliest of the offer close or settlement date if the security has been approved and settlement details are known at the time of the application.