2.51 Process KYC Ref Type Restrictions Detail

This topic provides the systematic instructions to exclude ref types from redemption payout restrictions.

According to Financial Intelligence Compliance Act (FICA), redemption payment transactions should not be processed until the required KYC documents have been received from the investor. However, you can configure the system to exclude certain reference types of transactions from the restrictions on redemption payouts even though the unit holder is FICA non-compliant.

You can use KYC Ref Type Restrictions Detail screen to:

• Enter new KYC ref type restrictions.
• Edit existing KYC ref type restrictions.
• View existing KYC ref type restrictions.
• Delete existing KYC ref type restrictions.
• Authorize KYC ref type restrictions.
• Amend authorized KYC ref type restrictions.

1. On Home screen, type UTDKYCRE in the text box, and click Next.
   The KYC Ref Type Restrictions Detail screen is displayed.

   Figure 2-62 KYC Ref Type Restrictions Detail

   
   

   
   Description of "Figure 2-62 KYC Ref Type Restrictions Detail"

   
   
2. On KYC Ref Type Restrictions Detail screen, click New to enter the details.
   For more information on fields, refer to the field description table.

   Table 2-59 KYC Ref Type Restrictions Detail - Field Description

   Field	Description
   Auto Invest Applicable	Optional Check this box to indicate auto investment feature is applicable.
   Auto Invest Lag	Numeric; 22 Characters; Optional If auto investment feature is applicable, then you need to specify the payment lag in days, if any, to be applicable for redemption payouts.
   Reminder Lag	Numeric; 22 Characters; Optional Specify the reminder lag, in days, after which reminders must be generated for the redemption payout. The reminder lag must be less than the auto invest lag period specified in the previous field.
   Ref Type Details Section	This section displays the following fields.
   Ref Type	Alphanumeric; 50 Characters; Optional Select the code of the reference type from the adjoining option list.
   Ref Type Description	Display The system displays the description of the selected reference type.