Users may now notice a new set of tasks with a "Review Exceptions" status. These tasks were generated during the update to help users easily identify entities, shareclasses and share transactions that need to be reviewed.
Below are a few examples of some exceptions users can expect to see and how to remediate them.
Most exceptions of this type (as seen in the screenshot below) are false positives.
Steps to Remediate;
Review both sides of the exchange transaction (find by date) and ensure that each has a Related Transaction reference, and the Description in each refers to the foreign share class.
If the Related Transaction is not present in one or both, the exchange transaction can be safely deleted by using an admin delete to avoid dropping a linked certificate.
Re-exchange the shares to the existing "unissued" or "invalid" certificate in the foreign class
B) Administratively Edited Certificate (All Data)
Both in Athennian and in legacy tools such as ALF, users were permitted to edit certificates manually, including changing their status and/or share balance, without ensuring that the associated transactions agreed with the modified certificate record.
With the new update, certificate balances are recomputed and statuses are based on associated transaction data, so these existing data entry errors will be flagged as exceptions to be remediated. Because the intent is often unsure (was the transaction correct, or the certificate?), this type of remediation can only be done by someone familiar with the file.
The remediation is usually a simple adjustment of share amounts on associated transactions, or no remediation at all if the transactions were correctly entered.
C) Missing Transactions
This exception occurs when a transaction was deleted without deleting the related certificate.To remediate, the transaction would need to be re-entered using existing certificates and shareholdings.