This message is sent by an account servicer (account servicing institution) to an account owner. The account owner may be a global custodian which has an account with its local agent (sub custodian), a local agent (sub custodian) which has an account with its clearing agent, or a registration provider or a financial institution which has an account with its local agent (sub custodian).
This message is used to:
confirm the registration, reregistration or deregistration of a beneficial owner or shareholder with the registration provider (the function of the message is NEWM),
confirm the modification of registration details (the function of the message is NEWM),
cancel a confirmation of registration or modification previously sent by the account servicer (the function of the message is CANC).