Institutional Support
Prepared by
Operations
Date
25-06-2024
Institutional Support
Below are the queries Support handle:
• Cash journals
• Closing accounts
• EOD file setup and amendments
• IT queries on system issues, DMA platforms & Unity
• Queries on statements
• Fee queries
• Underlying client viewing or trading access to trading/monitor
• General Treasury queries
• full liquidation requests / Partial liquidation requests
• Escalation requests
• 3rd party queries
• Tax reports
• Tax queries
• Cover Letters
Team members
Zanele Mahlutha
Phumla Msiza
Escalation
Jodi Swartz
Process that would need to be followed per query:
Cash Journal
Please note that DMA will only accept narrations provided on the journal, should you wish you to add a narration please inform Support@dma.co.za
How to complete the journal can be found below:
From account: 68400/12345
To Account: 68400/54321
Amount: cash amount
Currency: ZAR, EUR, USD *Note One currency transferring “from” or “to” need to be the same.
Closing accounts
• Email to be sent to Support for the following queries:
• Account opened and client would no longer like to use it before the account has been funded.
• General queries.
• Corporate actions that need to be paid out and account closed.
EOD File Setup and Amendments to current setup
EOD File setup: The EOD file form would need to be complete in full and signed by an authorized signatory.
Amendments to current setup: Email Support@dma.co.za the following details to ensure all required information is received to avoid delays:
• Structure ID & Name of structure:
• Change of SFTP details:
• Change of file format:
• Change of duration:
• Removing or adding new EOD files:
General Treasury Queries
• Escalations regarding a withdrawal / deposit
• How to complete withdrawal forms
• How to deposit funds
• Information regarding DMA’s banking details
Full liquidation requests / Partial withdrawal requests
Steps to be followed:
• Wrapper provider sends the instruction letter to support@dma.co.za
• Support contacts the Investment Manager to liquidate
• Investment Manager to confirm once done
• Support to notify treasury to withdraw the funds
Third-Party Queries
DMA does not accept third-party payments and any third-party deposits will be returned to the remitting bank account, in the ordinary course, however we will accept with a preapproval.
Document requirements below:
• The instruction letter must include the reasons for the transfer and include a legal basis such as whether it is a loan, donation, part of a sale. It should also specify the FROM and TO account with the amount that needs to be transferred.
• An acceptance letter from the receiving party
• 3rd party DMA form
Local 3rd party chargers ZAR 1,000
Offshore 3rd party chargers USD 100
Tax Reports
A request can be sent to Support@dma.co.za to generate tax reports.
The reports can be generated on a bulk and ad-hoc basis.
Tax Queries
• Cost prices
• P/L
• Interest queries
• Dividend Withholding Tax queries
• General queries
Estate Late documentation and process flow
The below documents need to be sent to Data Quality Management (DQM@dma.co.za).
• Copy of the Death Certificate
• Letter of Executorship/Letter of Authority
• The existing Power of Attorney is no longer valid as the client is deceased. A new Power of Attorney either in favour of the previously appointed Investment Manager, or any other approved DMA Investment Manager, can be signed by the Executor, should the Executor choose to deal with an Investment Manager.
• If the Executor does not sign a new Power of Attorney in favour of an Investment Manager, DMA are compelled to move the account away from the existing Investment Manager and place the account under DMA directly.
• Proof of ID of the Executor or Authorised Person
• Proof of residential address of the Executor or the Authorised Person not older than 3 months.
• Contact details for the Executor or Authorised person such as telephone number and email address
• Proof of banking details for the ESTATE
• For all offshore account, W8-BEN-E
Should the Executor nominate an Agent to act on his behalf, then additionally we will require
• Special Power of Attorney from the Executor nominating the Agent
• Proof of ID of the Agent
• Proof of residential address of the Agent not older than 3 months
• Contact details for the Agent such as telephone number and e-mail address
Please note that these requirements are just for the deceased estate. Should there be any further request such as share transfers etc. further documentation may be required which our Transfers depart will assist with.
Cover letters
• Queries
• Updates