Happy New Year! In January we released a number of updates and bug fixes to our online application form following last month’s major release. We also made updates and bug fixes to our capital call, BGL integration and payments features as well as added a couple more options for security classes.
Application form
- We’ve simplified the process for applicants who are using existing investor details by merging the ‘Apply using existing investor details’ and ‘Top up an existing holding’ options. The system will now automatically create a new holding if an applicant is not invested in the security, or add to the holding balance if they are.
- When supplying documents for AML/CTF verification, trusts can now attach a deed of variation (if available), along with their extract of the trust deed.
- Updated the application notification email to issuers to display ‘Total investment amount (for all applications)’, which is the sum of all applications made.
- The process for investors reviewing an application forwarded to them by an adviser has been updated:
- The investor agrees to the Terms and Conditions and downloads the offer document/s.
- The investor is shown a ‘Review application’ button which takes them straight to the Review and submit step.
- The application transcript PDF now contains links to the offer documents that the applicant downloaded.
- Fixed a bug in the application transcript where the tax number type for Australian residents was showing as TIN, not ABN or TFN.
- Fixed a bug where investors submitting an application that has been forwarded to them by an adviser to approve receive the approval email rather than the application confirmation email.
- Fixed a bug where issuer users logging in from the application form and applying as advisers encountered an error.
- Fixed a bug encountered when the mobile number entered into an application form for an approver didn’t match their existing account mobile number.
Offer setup
- In the Investor verification step during the offer setup:
- When issuers select the ‘Sophisticated investors’ option, they can now choose to ask for an accountant’s certificate from the primary contact only, or from all contacts.
- As GreenID does not verify foreign investors, issuers can now specify ID documents to be supplied by foreign investors to use to verify them instead.
- Issuers can now also request ID documents from Australian and foreign investors whether or not they have elected to use GreenID.
- The invoice is now referred to as the payment instruction in the issuer centre, application form and investor communications.
Capital calls
- The invoice is now referred to as the payment instruction in the issuer centre and investor communications.
Security classes
- Added the ability to enter a negative NAV price in the security price table. This is useful in certain circumstances when issuers wish to use a negative NAV price in the holding statement.
- Added a new security category, ‘Committed amount’, which has a fixed value of AUD 0.00. For this security, the value applied for by the investor becomes an unpaid amount on issue.
BGL Integration
- When a security is marked to be ignored for reconciliation, that security will no longer appear in the ‘Reconcile security class’ tab filter, or email notifications, for unmatched securities.
Payments
- For payments calculated based on days held, the withholding tax rounding options are now displayed directly below the option to apply withholding tax.
- In the Dividend Reinvestment Plan payment instructions table, the DRP units number is now shown to the number of decimal places specified by the DRP security precision setting, rather than rounded.
- Fixed a bug where saving a payment with a signed payment report attached caused an error.