Bankruptcy (BRUP)

SFTR Report - NONE | Corporate Action Cluster - Non-Economic or Information | Cash Move - N>

Status: Best Practice Finalised, Last Updated: 24/05/2021

SFTR Report - NONE | Corporate Action Cluster - Non-Economic or Information | Cash Move - N

Description:
Legal status of a company unable to pay creditors. Bankruptcy usually involves a formal court ruling. Securities may become valueless.

Best Practice:
When a non-economic or information only event occurs, relevant static data should be updated by both parties as soon as possible after the event where applicable. (COAC-5)