3.30 Process FBC Access Restriction

This topic provides the instructions to invoke FBC access restriction screen details.

You can impose restrictions on funds when there is a necessity to control inflows into, outflows from or both with regard to the funds. For example, when you change a fund from an open-ended fund to a close–ended fund or when limits on investment in a fund have been breached, you will need to restrict further subscriptions to the fund.

You can impose restrictions on clients on the basis of the RPO (Restricted Post Office) Code. For example, in case of an investor who is deceased, you may allow redemptions only if his address is known. You can also restrict any further subscriptions to his account.

You can restrict the operations/setup for a fund, broker or a client to specific users. The restrictions and the list of specific users can be maintained through the FBC Access Restriction Detail screen.

  1. On Home screen, type UTDFAR in the text box and click Next.
    The FBC Access Restriction Detail screen is displayed.

    Figure 3-38 FBC Access Restriction Detail


    Description of Figure 3-38 follows
    Description of "Figure 3-38 FBC Access Restriction Detail"

  2. Select New from the Actions menu in the Application tool bar or click New icon to enter the details of the restrictions that you wish to maintain.
  3. On FBC Access Restriction Detail screen, specify the fields.

    Note:

    • Restrictions on a broker are placed only when the broker has retired or has deceased. You can do this through broker disabling in the Broker Maintenance screen following which the system will not allow the broker to access any transaction, policy or unit holder account.
    • The restrictions that are placed on any fund or client here do not apply to the system generated transactions like Standing Instructions etc.

    You can specify the following fields in this screen:

    For more information on fields in the screen, refer the below table.

    Table 3-49 FBC Access Restriction Detail

    Field Description
    Restriction Type Mandatory

    Select the basis on which you wish to apply restrictions from the drop-down list. The options are Client and Fund.

    Restriction Mandatory

    Choose Yes from drop-down list if you want to apply restrictions. This prevents the users maintained in the list from performing the operation specified.

    Choose No if you do not want to apply restrictions. This ensures that only the users maintained in the list are allowed to perform the operation specified.

    Fund ID Alphanumeric; 6 Characters; Optional

    Specify the fund ID if you have opted for restriction type Fund.

    Auto Auth Mandatory

    If you want the users maintained in the list to be able to authorize their own transactions, choose Yes from drop-down list. Else choose No.

    If you choose Yes, this selection will take precedence over the Auto Auth maintained in the Security Maintenance System.

    RPO Code Display

    The system displays the RPO Code if you have opted for restriction type Client.

    Apply to All Users Mandatory

    The option you choose here will define if all or only particular users can perform the operation that you have specified. Choose No from drop-down list if you wish the restriction on operations to be applicable only to the users maintained in the list. Choose Yes if you wish the restriction to be applicable to all users. In this case, there will be no users maintained in the list.

    Operation Alphanumeric; 3 Characters; Mandatory

    Specify the operation (s) that you wish to restrict. Refer the table Operation that are allowed for client and fund restrictions.

    Table 3-50 Operation

    Operation Fund Level Client Level
    Subscriptions/ Policy Top Up Allowed Allowed
    Redemption/ Surrenders Allowed Allowed
    Subscription SI Allowed Allowed
    Recurring Premiums Allowed Allowed
    Redemption SI Allowed Allowed
    Recurring Annuities Allowed Allowed
    Switch Out Allowed Allowed
    Switch In Allowed Allowed
    Transfers Allowed Allowed
    View UH profile & Portfolio View Not Allowed Allowed
    Update of the profile Not Allowed Allowed
    Correspondence Not Allowed Allowed

    User Details

    Table 3-51 FBC Access Restriction Detail

    Field Description
    User ID Alphanumeric; 15 Characters; Mandatory

    List all the users that are allowed or disallowed to perform the operation that you have chosen.
    User Name Display

    The system displays the corresponding Names for the User IDs that you select.

    Example

    Let us assume the following restriction parameters for a Fund:

    Table 3-52 Restriction parameters for a Fund:

    Restriction Type Restriction Fund Id RPO Code Operation Apply to All Users User List
    Fund Yes OMGR - Subscription No User 1 & User2

    This implies that only User 1 and User 2 are not allowed to do subscription for the fund OMGR.

    Let us assume the following restriction parameters for a Client:

    Table 3-53 Restriction parameters for a Client

    Case Restriction Typ Restriction Fund Id RPO Code Operation Apply to All Users User List
    Case 1 Client Yes - UNKNO WN ADDR Redemptions Yes -
    Case 2 Client No - OVERPAID View UH Profile &Portfolio View No User 3

    In Case 1, no user is allowed to do redemptions for investors whose RPO Code has been specified as UNKNOWN ADDR.

    In Case 2, only User 3 will be allowed to do the Unit Holder View and Portfolio View operations for clients with RPO Code as OVERPAID.

Parent topic: Other Fund Activities