System and method for managing information related to securities and securities issuers

Abstract

A system and method that enables a financial institution managing a money market fund to meet the requirements of SEC Rule 2a-7. The system and method may enable an issuer of an instrument or security to provide information to investors that are regulated by SEC Rule 2a-7, in such a manner that the instrument or security of the issuer may be purchased and held by money market funds. This includes enabling the money market fund to verify that one or more securities issued by one or more issuers meet the three of the basic requirements of the Rule, namely (1) portfolio maturity, (2) portfolio quality, and (3) portfolio diversification.

1 . A system that manages files related to securities issued by an issuer, the system comprising:
 a storage module that stores a plurality of files, the plurality of files including one or more files that are associated with individual ones of a plurality of securities issuers;   an issuer cabinet module associated with the issuer, the issuer cabinet module being configured to manage files from the plurality of files stored in the storage module that are (i) associated with the issuer and (ii) relevant to an assessment as to whether one or more securities issued by the issuer qualify as eligible securities under one or more regulatory rules; and   a communication module that enables the issuer to (i) select one of more of the files managed by the issuer cabinet module and (ii) initiate transmission of the selected one or more files to users included in a list of users, wherein the list of users comprises one or more parties that are not permitted to purchase or hold the one or more securities unless the one or more securities issued by the issuer qualify as eligible securities under the one or more regulatory rules.   
     
     
         2 . The system of  claim 1 , wherein the list of users is defined by the issuer. 
     
     
         3 . The system of  claim 1 , wherein the one or more regulatory rules includes SEC Rule 2a-7. 
     
     
         4 . The system of  claim 1 , wherein the parties that are not permitted to purchase or hold the one or more securities unless the one or more securities issued by the issuer qualify as eligible securities under the one or more regulatory rules comprise one or more money market funds. 
     
     
         5 . The system of  claim 1 , wherein the one or more securities issued by the issuer comprise one or more securities that include a demand feature, and wherein the files managed by the issuer cabinet module comprise one or more files that include information related to one or more events that impair a holder's ability to exercise the demand feature of one or more of the securities issued by the issuer. 
     
     
         6 . The system of  claim 5 , wherein the one or more events that impair a holder's ability to exercise the demand feature of one or more of the securities issued by the issuer comprise one or more events related to the creditworthiness of the issuer. 
     
     
         7 . The system of  claim 1 , wherein the transmission of the selected one or more files to the list of users comprises generating electronic messages to the users included in the list of users, and wherein the electronic messages include copies of the selected one or more files. 
     
     
         8 . A method of managing files related to securities issued by an issuer, the system comprising:
 storing a plurality of files, the plurality of files including one or more files associated with individual ones of a plurality of securities issuers;   enabling selection by the issuer of one or more of the stored files that are (i) associated with the issuer and (ii) relevant to an assessment as to whether one or more securities issued by the issuer qualify as eligible securities under one or more regulatory rules; and   initiating transmission of the selected one or more files to users included in a list of users, wherein the list of users comprises one or more parties that are not permitted to purchase or hold the one or more securities unless the one or more securities issued by the issuer qualify as eligible securities under the one or more regulatory rules.   
     
     
         9 . The method of  claim 8 , further comprising enabling the issuer to determine the list of users. 
     
     
         10 . The method of  claim 8 , wherein the list of users is determined prior to enabling selection by the issuer of one or more of the stored files. 
     
     
         11 . The method of  claim 8 , wherein the one or more regulatory rules includes SEC Rule 2a-7. 
     
     
         12 . The method of  claim 8 , wherein the parties that are not permitted to purchase or hold the one or more securities unless the one or more securities issued by the issuer qualify as eligible securities under the one or more regulatory rules comprise one or more money market funds. 
     
     
         13 . The method of  claim 8 , wherein the one or more securities issued by the issuer comprise one or more securities that include a demand feature, and wherein the files that are (i) associated with the issuer and (ii) relevant to an assessment as to whether one or more securities issued by the issuer qualify as eligible securities under one or more regulatory rules comprise one or more files that include information related to one or more events that impair a holder's ability to exercise the demand feature of one or more of the securities issued by the issuer. 
     
     
         14 . The method of  claim 13 , wherein the one or more events that impair a holder's ability to exercise the demand feature of one or more of the securities issued by the issuer comprise one or more events related to the creditworthiness of the issuer. 
     
     
         15 . The method of  claim 8 , wherein initiating transmission of the selected one or more files to the list of users comprises generating electronic messages to the users included in the list of users, and wherein the electronic messages include copies of the selected one or more files. 
     
     
         16 . A system that manages files related to a specific security issued by an issuer, the system comprising:
 a storage module that stores a plurality of files, the plurality of files including one or more files that are associated with individual ones of a plurality of securities issued by a plurality of securities issuers;   an issue cabinet module associated with the issuer, the issuer cabinet module being configured to manage files from the plurality of files stored in the storage module that are (i) associated with the specific issue and (ii) relevant to an assessment as to whether the security qualifies as an eligible security under one or more regulatory rules; and   a communication module that enables the issuer to (i) select one of more of the files managed by the issuer cabinet module and (ii) initiate transmission of the selected one or more files to users included in a list of users, wherein the list of users comprises one or more parties that are not permitted to purchase or hold the specific security unless the specific security qualifies as an eligible security under the one or more regulatory rules.   
     
     
         17 . The system of  claim 16 , wherein the list of users is defined by the issuer. 
     
     
         18 . The system of  claim 16 , wherein the one or more regulatory rules includes SEC Rule 2a-7. 
     
     
         19 . The system of  claim 16 , wherein the parties that are not permitted to purchase or hold the specific security unless the specific security qualifies as an eligible security under the one or more regulatory rules comprise one or more money market funds. 
     
     
         20 . The system of  claim 16 , wherein the specific security includes a demand feature, and wherein the files managed by the issue cabinet module comprise one or more files that include information related to the qualification of the demand feature as an eligible security under the regulatory rule. 
     
     
         21 . The system of  claim 20 , wherein the information related to the qualification of the demand feature as an eligible security under the regulatory rule comprises information about an issuer or guarantor of the demand feature. 
     
     
         22 . The system of  claim 16 , wherein the transmission of the selected one or more files to the list of users comprises generating electronic messages to the users included in the list of users, and wherein the electronic messages include copies of the selected one or more files. 
     
     
         23 . A method of managing files related to a specific security issued by an issuer, the system comprising:
 storing a plurality of files, the plurality of files including one or more files associated with individual ones of a plurality of securities issued by a plurality of securities issuers;   enabling selection by the issuer of one or more of the stored files that are (i) associated with the issuer and (ii) relevant to an assessment as to whether the specific security qualifies as an eligible security under one or more regulatory rules; and   initiating transmission of the selected one or more files to users included in a list of users, wherein the list of users comprises one or more parties that are not permitted to purchase or hold the specific security unless the specific security qualifies as an eligible security under the one or more regulatory rules.   
     
     
         24 . The method of  claim 23 , further comprising enabling the issuer to determine the list of users. 
     
     
         25 . The method of  claim 23 , wherein the list of users is determined prior to enabling selection by the issuer of one or more of the stored files. 
     
     
         26 . The method of  claim 23 , wherein the one or more regulatory rules includes SEC Rule 2a-7. 
     
     
         27 . The method of  claim 23 , wherein the parties that are not permitted to purchase or hold the specific security unless the specific security qualifies as an eligible security under the one or more regulatory rules comprise one or more money market funds. 
     
     
         28 . The method of  claim 23 , wherein the specific security includes a demand feature, and wherein the files that are (i) associated with the issuer and (ii) relevant to an assessment as to whether the specific security qualifies as an eligible security under one or more regulatory rules comprise one or more files that include information related to one or more events that impair a holder's ability to exercise the demand feature of the specific security. 
     
     
         29 . The method of  claim 28 , wherein the one or more events that impair a holder's ability to exercise the demand feature of one or more of the securities issued by the issuer comprise one or more events related to the creditworthiness of the issuer. 
     
     
         30 . The method of  claim 23 , wherein initiating transmission of the selected one or more files to the list of users comprises generating electronic messages to the users included in the list of users, and wherein the electronic messages include copies of the selected one or more files.