I hold overseas stocks within my portfolio. Are there any implications for corporate actions on these stocks?
Due to the manner in which overseas stocks are held and delays in obtaining official communications, and communicating instructions to the custodian of the shares in the overseas market, the time in which to respond may be shorter than for corporate actions on UK listed stocks. Also on occasion it can take longer than the stated time period to receive the cash or new share proceeds.
Some corporate actions may result in you holding a stock which is not eligible to be held in the UK settlement system. In such situations it may be difficult or impossible for Hargreaves Lansdown to trade the resulting stock. In such an event, and where possible, you will be given written notice by Hargreaves Lansdown.
In some instances UK residents may not be eligible to take part in corporate actions on overseas stocks. In certain cases restrictions on overseas holders are applied.
Any cash proceeds that are received in a foreign currency will be converted to Sterling at the prevailing exchange rate upon receipt.
As information is occasionally scarce with overseas corporate actions, at certain times it may not be possible to contact you before the event reaches completion.