Too many standards for corp actions processing, says SIA
NEW YORK -- The securities industry will find it difficult to reach a universal standard for processing corporate actions because there are too many standards on the market, says Donald Kittel, New York-based executive vice-president of the Securities Industry Association (SIA).
Kittel says the industry might not reach a consensus on one standard that should be used in all corporate actions processing. "In the US alone, we have hundreds of standards firms use to process corporate actions," says Kittel.
The SIA formed a cross-border ad hoc committee two years ago to look into harmonising the standards. The committee has instead become a de facto permanent committee as
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