Joint Accounts DOMS less restrictive option CX guideline

Question

This question refers to the CDR CX (Consumer Experience) guidelines for joint accounts. See CX (Consumer Experience) guidelines for account permissions, Joint account disclosure option management service (DOMS) page, heading Change to a less restrictive option.

When AH-B views the notification about a proposal made by another joint account holder, does the wireframe representation here suggest that the notification is read inside the DOMS? Is this how Rule 4A.6(1),(2)) is addressed in the CX wireframes?

Answer

Yes. The CX guidelines wireframes show AH-B providing a response to the proposal in the DOMS.

According to rule 4A.6(1)(c) and (2), the data holder must provide a service to each joint account holder that allows the joint account holder to respond to a proposal by another joint account holder to change the disclosure option. The Disclosure Option Management Service (DOMS) is such a service.

See:

• CDR Rules, main section, part 4A, division 4A.2, 4A.6 Obligation to provide disclosure option management service