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CHESS 10 Project

Delivering new functionality and efficiencies for mFund users.

Welcome to the CHESS 10 Project website. Here you will find information about everything to do with the CHESS 10 Project, technical specifications, educational material, key milestones and regular project updates.

CHESS 10 - Background

CHESS 10 is the name given to a CHESS technology release, which captures a number of regulatory and administrative enhancements for users of mFund.
CHESS 10 replaces the majority of the current manual process occurring outside of CHESS for CRS data collection.
mFund currently provides through CHESS, a mechanism for accepting a participant’s confirmation that FATCA (US-only regulation) checks have been conducted on an investor. The CHESS 10 release builds upon the FATCA approach and provides a more comprehensive set of data to cater to both FATCA & CRS.
CHESS 10 also includes a range of efficiency improvements to enhance the user and investor experience.
The final CHESS 10 solution is the result of operational roundtables and one-on-one meetings between ASX and participants/issuers over the past six months. ASX acknowledges and thanks the mFund community for their significant contribution and support during this process.

Project Timeline

CHESS 10 target timeline

The FSC Guidance Note is also accompanied by 13 forms (Schedules) designed to assist in managing customer identification obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act and certain customer due diligence obligations under the (United States) Foreign Account Tax Compliance Act (described as “FATCA”).

FSC Members (free):
• For free copies of the 13 forms, FSC members may contact Sharon Sherry of the FSC at ssherry@fsc.org.au or on (02) 9299 3022.

Non-Members (licence):
• Non-members may use, adopt or access the forms under licence. For information on the licence terms and licence fee, please contact FSC at info@fsc.org.au or on (02) 9299 3022.

Copyright in the forms is owned by the FSC and the Financial Planning Association. The FSC and FPA permit non-members to use the forms upon payment of the applicable licence fee.