This message is sent by an account servicer (account servicing institution) to an account owner or its designated agent. The account servicer may be a local agent (sub-custodian) acting on behalf of their global custodian customer, or a custodian acting on behalf of an investment management institution or a broker/dealer.
This message is used to advise the status, or a change in status, of a corporate action-related transaction previously instructed by, or executed on behalf of, the account owner. This will include the acknowledgement/ rejection of a corporate action instruction or the acknowledgement/rejection of a request to cancel an outstanding instruction. It may also be used to provide a reason as to why a corporate action event has not been completed by the announced payment dates.
This message may also be used to:
re-send a corporate action status previously sent
provide a third party with a copy of the message.