Hargreave Hale selects Dion to enhance management and control of corporate actions

London - 8 October 2013

Dion Global Solutions (BSE: 526927), technology partner to the financial services industry, today announced that Hargreave Hale has gone live with its Corporate Action Workflow solution. The move 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.

According to Stuart Brookes, Operations Director at Hargreave Hale: “Corporate actions can be highly complex to manage. As volumes continue to rise and regulatory pressures mount, manual processes represent an unnecessary headache for us and our clients. Recent high-profile M&A activity underlines the importance of reacting quickly and appropriately to corporate events. We now have instant access to the readable data, which makes processing the events much quicker and easier. The consolidated, browser-based view has gone down well with our front office team. It not only looks better, it saves time too."

Kean Williams, Head of UK Operations at Dion added: “The current regulatory landscape means that firms cannot afford to take their eye off the ball when it comes to managing corporate actions. Mistakes can be costly and one small oversight can hit an organisation’s bottom line. Our solution is built using Dion’s global product resources and local knowledge to provide Hargreave Hale with an offering that not only reduces risk exposure but also significantly improves front and back office efficiency.”

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