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A corporate action is a change initiated by a company that affects shareholders by adjusting the organization's structure of debt or equity.
Examples of corporate actions can be stock-splits, consolidations, mergers and many more!
How do these work in Wealthsimple Trade?
Our back-office will process any mandatory corporate actions on your shareholdings so no action is required on your end in these cases.
Corporate actions typically take anywhere between 1-6 business days (or more) to fully process. During this time, you may notice that your shares appear as ‘inactive’ before the new shares are added to your account. We do our best to minimize this wait time, but for some corporate actions we have to wait for our clearing brokers to provide us with the new shares.
At the moment, Wealthsimple Trade does not support alerts or notifications regarding corporate actions so we recommend checking in with the investor relations pages and public news sources for news or information regarding your holdings.
Any fractional shares that are generated from corporate actions will be sold off for the cash equivalent as the platform cannot currently support them.
Please note, that while some securities may move to an over the counter (OTC) listing, this exchange is not officially supported on Wealthsimple Trade. Any corporate actions or listing changes involving OTC securities are executed on a best effort basis only.