BusinessProcess Description This diagram represents the high level BusinessProcesses. Account Administration Item Description Definition The account servicer creates and maintains an accounting record for the account owner/intermediary with the fund and records static information relating to the account owner/intermediary, for example, name, address, credit limit, anti-money laundering checks, tax and residency status, income distribution instructions, settlement instructions and terms and intermediary. Trigger investor wants to make an investment in a fund account owner wants to open, maintain or close its account Pre-conditions formal demand from the account owner to open, maintain or close an account if the account is to be closed, then a zero balance in the account Post-conditions laundering, legal documentation or other documentation is available credit limit is set account identification is attributed direct debit mandates are set up power of attorney is added reporting is defined commission schedule is defined confirmation of account details is provided to the account owner or its intermediary relevant tax authorities are informed account is open, updated or closed Role Account servicer Order Processing Item Description Definition An investor places an instruction to subscribe to, redeem from, transfer or switch between units in one or more funds. Trigger investor/intermediary decision corporate action event standing instruction, for example, saving plans or saving schemes Pre-conditions valid account exists fund exists credit limit exists (for subscription), if required for switch or redemption, the units in the account are settled/created respects the terms set out in the prospectus instructing is validated and verified
BusinessProcess Description This diagram represents the high level BusinessProcesses. Account Administration Item Description Definition The account servicer creates and maintains an accounting record for the account owner/intermediary with the fund and records static information relating to the account owner/intermediary, for example, name, address, credit limit, anti-money laundering checks, tax and residency status, income distribution instructions, settlement instructions and terms and intermediary. Trigger investor wants to make an investment in a fund account owner wants to open, maintain or close its account Pre-conditions formal demand from the account owner to open, maintain or close an account if the account is to be closed, then a zero balance in the account Post-conditions laundering, legal documentation or other documentation is available credit limit is set account identification is attributed direct debit mandates are set up power of attorney is added reporting is defined commission schedule is defined confirmation of account details is provided to the account owner or its intermediary relevant tax authorities are informed account is open, updated or closed Role Account servicer Order Processing Item Description Definition An investor places an instruction to subscribe to, redeem from, transfer or switch between units in one or more funds. Trigger investor/intermediary decision corporate action event standing instruction, for example, saving plans or saving schemes Pre-conditions valid account exists fund exists credit limit exists (for subscription), if required for switch or redemption, the units in the account are settled/created respects the terms set out in the prospectus instructing is validated and verified
ISO20022MDRPart1_InvestmentFunds_2017_2018_ForSEGReview_v1.docx