1.1.7 Validate SI Maintenance

This topic provides the instructions to validate SI maintenance.

In case of new SI maintenance, the system will validate SI start date with the cut off days maintained. The system maintains the Cut off Days at system level in Parameter Maintenance Screen (UTDPARAM) with Param Code as SICUTOFFDAYS and Param Value as RIS.

If the SI is amended, the system will validate next processing date with the cut off days maintained. If yield is amended, system will use this revised yield specified by investor to compare against the computed yield for transactions generated after SI amend.

The system validates the investor and fund risk rating for the selected unit holder and funds based on the maintenance done in Investor-Fund Risk Rating Mapping (UTDINFRR) screen.

The system should check the investor risk rating to fund risk rating (i.e. sales suitability check) while saving SI maintenance and display an error message.

Cut-off based SI Maintenance

You can create or amend new RSP based on the cut-off lag maintained at the system level.

While setting up a new SI or modifying an SI before authorization, the system will validate SI Start Date based on the parameter code SICUTOFFDAYS and parameter Value NORMAL.

In Amend Mode, the system will validate Next Processing date based on the parameter code SICUTOFFDAYS and parameter value NORMAL maintained at Parameter Maintenance.

The system will capture the effective date of amended SI. Every SI rule will be associated with an effective date in the system.

If Fund Holiday is modified after deriving next processing date, the system will not update the next processing date. Instead, the actual SI generation will happen considering the modified fund holiday.

If amended during the cut off period, effective date must be greater than next processing date. Cut-off days will always be system calendars days and lag is applicable for both RSP and DRSP creation and amendment.

If the cut-off dates falls on Taiwan holidays, the cut-off dates will move to previous business day. For instance, cut-off days is 5, RSP date is 8th say, 8March, the cut-off date will be last day of previous month, i.e., 28February. If 28 February is not a Taiwan business day, the cut-off date should be moved to 27 February or previous business day.

Modified SI rule will be effective from SI Effective date of a SI plan and amendment of SI will be allowed based on the cut-off lag maintained.

When an SI rule becomes effective on the effective date, the SI mandate values (UI and nonUI) to be carry forwarded from the previously effective maintenance will be based on the Template ID field in the SI Maintenance screen.

Example

Assume that SI cut-off day for RSP/ DRSP is maintained as 7. The system will validate the maintenance as follows:

Table 1-19 SI cut-off day for RSP/ DRSP

Case#	SI Start date	Existing SI	Business day	Effective Date	Next processing date	Operation	Remarks
1	28-Nov-21	No	20-Nov-16	20-Nov-16	Blank	New SI creation	SI will be created successfully
2	28-Nov-16	No	23-Nov-16	NA	Blank	New SI creation	SI creation will not be allowed as SI start date is within the disallowed period. If SI start date is 28Dec, the SI creation should be allowed
3	28-Jan-16	Yes	20-Nov-21	20-Nov-16	28-Nov-16	SI Amendment (post authorization)	SI amendment will be allowed
4	28-Jan-21	Yes	22-Nov-16	Effective date can be any date after 28- Nov2016	28-Nov-16	SI Amendment (post authorization)	SI amendment will be allowed only with effective date greater than Next Processing Date (28-Nov-2016) as Next processing date is within the dis-allowed period
5	28-Jan-16	Yes	10-Nov-16	10-Nov-16	12/8/ 2016 (this should be change to 08th Dec after post authorization)	SI Amendment (to change the RSP date from 28th to 8th (post authorization)	SI amendment will be allowed
6	28-Jan-16	Yes	11-Nov-21	11-Nov-16	11/28/ 2016 (this should be change to 28th Nov after post authorization)	SI Amendment (to change the RSP date from 8 to 28th (post authorization)	SI amendment will be allowed.
7	2/8/2016 (Another RSP plan)	Yes	11-Nov-21	11-Nov-16	11/28/ 2016 (this should be change to 28th Nov after post authorization)	SI Amendment (to change the RSP date from 8 to 28th (post authorization)	SI amendment will be allowed

You can amend SI maintenance as follows:

Fetch the latest available SI rule with SIID and Effective date in UTDSIN or from Summary screen (UTSSIN)

• If the business day is not within the cut-off period, the system will allow amendment of SI with same date as effective date/ future date.
• If business day is within the cut-off period, the system will allow amendment of SI with effective date greater than next processing date.

The list of amendable fields will be factory shipped. Along with the existing SI amendable fields the following fields will be amendable:

Table 1-20 SI Amendable fields

Field	Description
High Contribution Amount	DRSP Specific
Low Contribution Amount	DRSP Specific
Positive yield %	DRSP Specific
Negative yield %	DRSP Specific
SI Effective Date	Generic
Next Processing Date	Generic
Suspension expiry date	Generic
SI Type	Allowed only for RSP/DRSP
Amount	SI Base amount
Yield %	Revolving investment schema

You can amend SI mandate only for effective date greater than next processing date between cut-off date and SI generation date.

Cut-off date will be derived as follows:

Cut-off date = Next Processing Date – CUTOFFDAYS

Example

If next processing date of the SI is 28-Nov-2016, and CUTOFF days is defined as 7, then you can amend the SI between ’21-Nov-2016’ till 28-Nov-2016 only if effective date greater than next processing date.

With the above setup, the system allows SI amendment between last processed date and cut-off date for the upcoming SI generation.

Table 1-21 SI amendment between last processed date and cut-off date

Last Processed Date	Cut-off Date	Next Process Date
28-Oct-16	21-Oct-16	28-Nov-16

Amendment of SI for next cycle (28-Dec) can be done between the below mentioned dates:

Table 1-22 Amendment of SI for next cycle

Amendment from	Amendment to
Any Date	21-Dec-16