MLC Investments Limited Authority Matrix

Transcription

1 MLC Investments Limited Authority Matrix Auth POA 1 Rep Mail Fax/Scanned Call centre Form New MasterKey Investment Service Fundamentals application MLC Applications Application form from current PDS 3 Identity of client must be verified to open a MKISF account. Change of name / Update entity details 3 Certified copy of proof of name change required (i.e. marriage certificate issued by registry of births, deaths and marriages). Certified ID must be posted to MLC. Change of date of birth / Certified copies of ID required, need to be posted to MLC. Change of address Update entity details 3 s addresses can t be amended to be the same as the. PO Box cannot be the sole address type. Change of contact details 4 Update entity details 3 Quote TFBN Update residency status Linking nomination Only two investors may be linked for the purpose of MasterKey portfolio refunds. Restrictions may apply. Authorised Representative nomination Information only Authorised Representative can be requested through mlc.com.au Change reporting / statement delivery method MLC Investments Limited Authority Matrix 1

2 POA 1 Auth Rep Mail Fax/Scanned Call centre Form Change of signatory requirements for joint accounts Change of adviser (client request) Change of financial adviser All contribution and account based commission to be dialed down to zero. Service Fees must also be dialed down to zero until client provides a new fee request. (MKUT/NITS 5 ) Asset Based Commission cancel/reduce Service Fee on contributions/ Service Fee increase Asset Based Commission can only be reduced or cancelled and cannot be added back onto the account. Service Fee on contributions/ Service Fee decrease Contribution Fee Cancel/reduce MKUT/NITS contribution fee can not be decreased where the client has removed the adviser from the account product default rates will apply 5. Switch request / Switch and strategy Change pre- nom inated strategy / Switch and strategy Change draw down strategy Switch and strategy This strategy is applicable to Fee and Top up Switches only. Change of income distribution If requested via call centre must be paid to pre-nominated bank account. MLC Investments Limited Authority Matrix 2

3 POA 1 Authorised Representative Mail Fax/Scanned Call centre Form New regular facility Additional and regular New personal bank details can be provided via online. Change bank details for regular facility Change amount and for regular facility New regular withdrawal facility Change bank details for regular withdrawal facility Change amount and for regular withdrawal facility New and/or change bank details telephone/fax withdrawals New and/or change bank account details distribution payment Make an additional Additional Transactional Authorised Representative can transact using only Pre nominated bank details. MLC Investments Limited Authority Matrix 3

4 POA 1 Authorised Representative Mail Fax/Scanned Call centre Form Transfer of s in Transfer of Assets Transfer forms must be signed by the transferee and stamped by the approved government body before the transfer can take place. Transfers into MKIS are only available to existing investors. Withdrawal request Withdrawal request Transactional Authorised Representatives cannot close the account and can request payments to pre nominated banks only. Withdrawal requests via the call centre can only be paid to a pre-nominated bank account provided AML requirements are met. Certified copies of ID need to be posted to MLC (if client or person/entity requesting withdrawal is not verified & not exempt from AML KYC verification, or when personal details are changed in last 3 months). For payments to third parties, the identity of the client/payee must be verified upon request of withdrawal. Transfer forms must be signed by the transferee and stamped by the approved government body before the transfer can take place. Transfer of out of MLC MKIS/F Asset Transfer request (withdrawals) and an Australian Standard Transfer form for each option. This Authority Matrix is not to be used for public distribution. Note: This guide lists the minimum requirements to initiate a change request. As each request is assessed individually, MLC may need additional requirements to be provided. 1 Power of Attorney (POA) Certified copy required to appoint a POA. A signed statement of non-revocation must also be submitted at the time of the request. POA will need to be identified before transacting on an account. 2 Scanned documents must be provided by advisors to MLC using Document Upload functionality in the secure MLC site. 3 When a request is made via a POA, a statement of non-revocation is not required if this form is used. 4 Contact details refer to phone number(s), address and fax number. 5 MKUT/NITS, the Product default contribution fee must be charged if the client elects to remove adviser, change advisor or remove fees on their account M0915 Contact us website: mlc.com.au Call Centre Call Centre Mailing address MLC PO Box 200 North Sydney NSW 2059 MLC Investments Limited Authority Matrix 4

5 Transfer Scenarios AML requirements Forms required Notes Change in beneficial owner (eg Bill Jones to Sam Smith) Transfer to deceased Estate or beneficiary (eg Estate of the Late Bill Jones to Sue Jones) In relation to possible CGT implications the client should seek personal tax advice. Transfer from individual to joint ownership (eg Bill Jones to Bill Jones & Sue Jones) The transfer must be processed in two parts as half will incur CGT and half will not incur CGT. Split joint account into two accounts (eg. Bill Jones and Sue Jones to Bill Jones <account 1> and Sue Jones <account 2>) All products: Original STF x 2 and Change of Ownership form x 2 If facilities need to be updated, complete the relevant maintenance form. Conditions apply on non-member spouse: MKIS/MKUT Not Permitted 6 MKISF New MKISF application to be completed by non member. No change in beneficial owner Deceased Estate joint account to continue in sole survivor s name only (eg Estate of the Late Bill Jones and Sue Jones to Sue Jones) All products: Letter signed by the surviving investor stating they wish to continue the account in their own name Original Certified copy of the Death certificate All products: Original STF and New Change of Ownership form. If facilities need to be updated, complete the relevant maintenance form All products: Original STF Original certified copy of the Deed of Appointment and Resignation of Trustee Transfer from joint to individual ownership (not due to death) eg Bill Jones and Sue Jones to Bill Jones) Change of Trustee of a Trust account (eg ABC ATF Bill Jones Super Fund to XYZ ATF Bill Jones Super Fund) Only one of the new trustees needs to be identified. No change in beneficial owner Transfer from individuals to super fund, no change in beneficiaries (eg Bill and Sue Jones to Bill and Sue Jones ATF The Jones Super Fund) Change of beneficial owner ATF (eg Bill Jones ATF The Jones Super Fund to Bill Jones ATF The Harris Super Fund) New owner(s) need to be identified. All products: If the ABN remains the same then we require an original certified copy of the change of name registration only MLC Investments Limited Authority Matrix 5

6 Transfer Scenarios AML requirements Forms required Notes Adding/removing a margin lending hold (eg John Smith to NMS Nominees Pty Ltd A/C John Smith) All products: Original STF (photocopy accepted for NML) No change in beneficial owner Removal of trustee as client reaches 18 years of age (eg Bill Jones ATF Sam Jones to Sam Jones) Minor needs to be identified. All products: Original STF MLC Identification for Individuals and Sole Traders form Change of Ownership form If facilities need to be updated, complete the details form MKIS/MKUT: Not permitted 6 All products: If the ABN remains the same then we require an original certified copy of the Certificate of Registration of the Company only No change in beneficial owner. Adding another minor (eg Bill Jones ATF Sam Jones to Bill Jones ATF Sam Jones and Tom Jones) Change of Company (eg ABC Pty Ltd to XYZ Pty Ltd) The company needs to be identified if it is a different company. Costs and Tax implications of Account Transfers If there is no change in beneficial owner there are no Capital Gains Tax implications on the transfer. 6 For MKIS/MKUT scenarios where transfer is not permitted investors can withdraw funds from existing account and opt to invest in an onsale or pre-existing account. A withdrawal form will need to be completed. Where the client (including a new beneficial owner) elects to invest in MKISF they will need to complete a MKISF application form. Key OSR Office of State Revenue CBO Change in Beneficial Owner MKIS/F MasterKey Investment Service / Investment Service Fundamentals AML Anti Money Laundering STF Standard Transfer Form NCBO No Change in Beneficial Owner MKUT MasterKey Unit Trust KYC Know Your Customer NML National Margin Lending ATF As Trustee For 73776M0716 MLC Investments Limited Authority Matrix 6