Managed investments - updating existing investments 108-04090030

Forms

MIN/SIN Helpdesk Online Query Form

Income and Assets Update (SA220m)

Additional Income and Assets form (MOD IA)

Intranet links

Financial Industry and network Support (FINS) Bulletin

Examples of E126MI error

'Managed Investment product XXX has been closed on DD/MMM/YYYY’, or

‘Managed Investment product XXX has been terminated on DD/MMM/YYYY’.

This error can occur when adding or updating closed or terminated investments.

The investment date must be before the date the investment was closed or terminated.

Closed investments can only be recorded where the customer purchased the investment before the investment was closed to new entrants. Update the investment date to the purchase date of the investment. Where the purchase date is unknown, use a date before the closure date displayed in the error message.

Terminated investments have ceased trading. Historical coding is allowed if the investment date is before the termination date, however the only update that should be made is to code off the investment. If the claimant advises that they have purchased an investment that has been terminated, it is likely that an incorrect investment has been selected. Check the name and/or Asia Pacific Investment Register (APIR) number and update as necessary.

For example, if the following error was received, ‘E126MI - Managed Investment product ANZ0117AU has been closed on 1 Jul 2006’, then the investment date must be coded/corrected to a date of 30 June 2006 or earlier. The error message should no longer present.