> ## Documentation Index
> Fetch the complete documentation index at: https://docs.tilt.now/llms.txt
> Use this file to discover all available pages before exploring further.

# Configure automatic corporate-action restrictions

> Set firm rules that pause trading or exclude portfolio targets around corporate actions.

Configure firm rules so Tilt adds restrictions when a relevant corporate action affects your organization. These rules change optimization inputs and do not submit trades. Account and model allowances still apply; see [Settings and rules](/advisor/configuration-and-rules#3-add-conditional-restrictions-or-bounds).

## 1. Open the firm's restrictions

1. Click the workspace and email button at the bottom of the left sidebar.
2. Click **Settings**.
3. Under **Firm settings**, click **Restrictions**.
4. Find **Automatic corporate-action rules**.

Check that you are editing the intended firm's settings. These rules apply across the organization.

## 2. Enable the recommended rules

Turn on **Automatic corporate-action rules**. Tilt selects the recommended rules for all supported event types:

| Event | Recommended action | Timing |
| - | - | - |
| Delisting | **Exclude portfolio targets (No-hold)**. Excludes the ticker from optimized holdings while allowing an exit, unless another restriction blocks trading. | Immediate, until the effective date at midnight UTC. |
| Other enabled event types | **Pause trading (No-trade)**. Blocks buys and sells, including an exit from an existing position. | Immediate, until the effective date at midnight UTC. |

If both No-hold and No-trade apply to a ticker, No-trade takes precedence.

## 3. Adjust an event rule

Open **Advanced overrides**. Clear an event's checkbox to stop creating new restrictions for that event type. To change an enabled event, click **Edit** beside it.

1. Choose **Action**: **Pause trading (No-trade)** or **Exclude portfolio targets (No-hold)**.
2. Choose **Start**: **Immediately** or **Days before effective date**. For days before, enter a whole number of at least 1 in **Calendar days before effective date**.
3. Review **End**. Rules end on the **Corporate-action effective date** at midnight UTC, at the start of that date. For No-hold, you can choose **No end date**, which excludes portfolio targets immediately until you remove the restriction.

![Automatic corporate-action rules enabled, with Advanced overrides open and the delisting editor showing Exclude portfolio targets (No-hold), Immediately, and Corporate-action effective date.](https://mintcdn.com/tilt/Hfny0uGbVAFhrCTK/images/advisor/corporate-action-restrictions.png?fit=max\&auto=format\&n=Hfny0uGbVAFhrCTK\&q=85\&s=1594fb00b9615ce639935c263ca9f112)

Timing follows corrections to the corporate action's effective date. If a saved No-trade rule shows legacy duration-based timing, choose a **Start** timing to replace it with a rule that ends on the effective date.

## 4. Apply and verify

Review the queued firm changes and click **Apply firm changes**. Reopen **Restrictions** after refreshing to check the saved event selections, actions, and timing.

Changing a default affects new restrictions. Existing restrictions keep their saved terms, including when you turn off an event or the main switch. Turning the main switch back on restores the recommended defaults for all event types; review any overrides before applying.

To end an existing automatic restriction, find its **Corporate action** row under **No-hold tickers** or **No-trade tickers** on the same page. Click **Remove**, then **Queue removal**, and apply the queued firm change. Tilt preserves manual and overlapping restrictions and will not reapply the removed event's restriction.

## 5. Choose notification organizations

Under **Personal** in Settings, open **Alerts**. Under **Corporate action alerts**, select the organizations you want notifications for. Tilt uses this preference for alerts when automatic restrictions activate or end.

After changing restrictions, follow the [rebalance review workflow](/advisor/review-rebalance) when you are ready to review and submit trades.


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.