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Updates to Connectworks

A quick list of recent changes to Connectworks

This is an overview of the recent changes made to Connectworks.

FYI Integration

Register your interest at support@connectworks.com


September

AML Workflow Undergoing CDD Filters Updated

The filters on the undergoing AML page have been updated to support filtering by AML progress.

 

Power of Attorney (PoA)

Firms can assign a person the Power of attorney role for AML purposes.

 

Compliant Share Register Notification

Share Management now shows the following message when the transactions have not been updated from the Balance Share Allocations. 

See more - Balance Share Allocations


July

AML Review Period Changes

Firms now have the ability via the Admin>Settings tab to change the default* period when the AML review is required. 

*The previous review period will appear for an existing entity when an AML workflow is due for review.

See more - AML Review Period

AML Workflow Internal Commentary

Firms can now write internal commentary against an active AML Workflow. This allows staff members to add notes relating to the specific workflow in a variety of ways. 

See more - AML Workflow Internal Commentary

    Further updates following the new AML/CFT Regulations - June 2024, the following changes were made:

    New Role: Nominee Director

    For Companies on the Unlinked plans and above, this can updated via the Company Workspace>Admin tab

    For Companies on the AML-Only plan, this can updated via the Edit Profile>Associated Parties tab

    More Information - Creating Profiles for Directors and Other Associated Parties

    New Role: Nominee General Partner

    Partnerships on the AML-Only plan, can updated via the Edit Profile>Associated Parties tab

    New Role: Nominee Shareholders 

    For Companies on the AML-Only plan, this can be updated via the Edit Profile>Associated Parties tab.

    For Companies on the Unlinked plans and above, this can updated via the Shareholders>Share Registry>Shareholding tab.

    • Select the allocation and click Update on Title holders (owners)
    • Edit the party of the Allocation
    • Update the party as the Nominee shareholder and apply the changes


    June

    A new option called ”Contingent Appointments" within Trusts

    Allows the firm to add a relationship based on a future event or condition

    Following the new AML/CFT Regulations - June 2024, the following changes were made:

    AML Workflow: Client Information 

    Notes and supporting documentation section hint in the AML dialogue updated to inform users about the extra details they need to gather due to the legislation change.



    Time/Date on Reports

    Updated the following reports with the Date/Time the report was generated. 

    Share Management

    • Transaction report (chronological)
    • Transaction report (by class)
    • Transaction report (by allocation)
    • Compliance report in respect of s87(2)(a)
    • Compliance report in respect of s87(1),(2)(b,c)
    • Shareholders → Shareholders → I would like to → Export (PDF)

    Directors

    • Directors → Directors → I would like To → Export (PDF)

    Trusts

    • Workspace → I would like to → Export Trust Profile

    AML

    • Updated the export report with the reviewer's information

    AML Workflow: CDD candidates: Appointor / Protector

    Appointor and Protector roles are now also shown in the CDD candidates tab in the AML dialogue.


    May 

    Inline validation for Centrix form input

    Centric identity verification form has been updated to provide better inline input field validation.

    Annual Return Export List Report

    The PDF and CSV export lists (via I would like to ...) in the Annual Returns gallery have been updated to include the last known filing date.

    Upload Document

    The document upload component has been updated, which involved the removal of the Google Drive, Dropbox and OneDrive integrations.

    File Annual return button

    Instead of being disabled when users are not RealMe authenticated the File Annual Return(s) button is now enabled and when clicked shows an info dialog explaining that the RealMe authentication is required

    Update galleries to show the full names of People

    Most galleries and reports now show full-person names instead of first and last names only.


    April

    Document Packs: Change the sequence of Actions for a Document Pack

    The order of actions defined for a document in a document pack has been updated and a menu separator has been introduced.

    Change Registered Office

    The number of selected records that can be updated at once has been increased to 30.

    Date of Death 

    Date of Death added into the app, more information - Date of Death


    March

    Managing Share Classes

    Updated the Voting Rights and Restrictions in the Compliance Report s87(1),(2)(b,c) concerning the Constitution. In the app, this is determined by any documents uploaded with the tag = Constitution.

    No Constitution:
    Voting Rights: Commentary relating to the constitution is missing.
    Restrictions: No known restrictions.

    Constitution is present:
    Voting rights: Can vote on changes to the constitution.
    Restrictions: Refer to the company constitution. 

    Adding a new party into an Entity 

    The default option changed to an existing relationship within the menu option when adding a new associated party.

    AML Filters - Change Risk and CDD Level filters to be more comprehensive

    The undergoing and completed AML galleries now both have the same values in the Level of CDD and Level of Risk filters.


    February

    Share Management Compliance Report

    The Compliance report in respect of s87(1),(2)(b,c), updated to consider the start and end dates of the parties within an allocation.

    Merging of Parties from the Companies Office

    When company profiles are imported from the Companies Office, during the import process Connectworks checks if the person is in the contacts tab when the name and address match.

    More information and a 4 min video - Merging Duplicate Contacts

    Registered Office Description changes 

    The wording has been updated within the app to match the Companies Office when updating Company addresses. Company Summary and Address Updates

    In Clients>Companies>3 dots

    • Edit Companies Office (Updating the addresses for a single company)
    • Change Registered Office (Updating the addresses for multiple companies)

    Duplicate Names 

    Added a new filter within Clients>Contacts called Duplicate Names, and updated the gallery to show the address to assist with merging duplicate contacts.