Compliance monitoring method and apparatus
First Claim
Patent Images
1. A computer implemented method comprising:
- electronically storing compliance data, rules and settings, comprising account registration rules, account trading rules, and screening criteria in a compliance monitoring system;
identifying an individual to be monitored for account compliance;
registering the individual with the compliance monitoring system;
electronically receiving from the individual account information associated with the individual;
electronically storing the received account information;
generating at least one predetermined rule that applies to all monitored transactions requested by the individual, wherein generating comprises using the compliance data, rules and settings, and the account information associated with the individual;
electronically obtaining holdings in the account; and
electronically determining whether the holdings in the account comply with a predetermined rule of the at least one predetermined rules;
automatically electronically retrieving updated account information from the account; and
storing the updated account information.
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Abstract
A compliance monitoring system and method identifies an individual or entity to be monitored for account compliance and receives account information associated with the individual or entity. The compliance monitoring system and method obtains holdings in the account and determines whether the holdings in the account comply with a predetermined rule.
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Citations
34 Claims
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1. A computer implemented method comprising:
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electronically storing compliance data, rules and settings, comprising account registration rules, account trading rules, and screening criteria in a compliance monitoring system; identifying an individual to be monitored for account compliance;
registering the individual with the compliance monitoring system;electronically receiving from the individual account information associated with the individual; electronically storing the received account information;
generating at least one predetermined rule that applies to all monitored transactions requested by the individual, wherein generating comprises using the compliance data, rules and settings, and the account information associated with the individual;electronically obtaining holdings in the account; and electronically determining whether the holdings in the account comply with a predetermined rule of the at least one predetermined rules; automatically electronically retrieving updated account information from the account; and storing the updated account information. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A computer implemented method comprising:
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electronically storing compliance data, rules and settings, comprising account registration rules, account trading rules, and screening criteria in a compliance monitoring system; electronically identifying an entity to be monitored for account compliance; electronically registering the entity with a compliance monitoring system;
receiving from the entity account information associated with the entity;
storing the received account information;electronically generating at least one predetermined rule that applies to all monitored transactions requested by the entity, wherein generating comprises using the individual; electronically obtaining holdings in the account; and electronically determining whether the holdings in the account comply with a predetermined rule of the at least one predetermined rules; and electronically generating a compliance report comprising the information regarding whether the holdings comply with the predetermined rule. - View Dependent Claims (12, 13, 14)
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15. A computer implemented method comprising:
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electronically identifying a first employee to be monitored for account compliance; electronically registering the first employee with a compliance monitoring system; electronically identifying a second employee to be monitored for account compliance;
registering the second employee with the compliance monitoring system;electronically receiving from the first employee first account information associated with the first employee; electronically receiving from the second employee second account information associated with the second employee; electronically storing the received account information; electronically generating at least one predetermined rule that applies to all monitored transactions requested by the individual, wherein generating comprises using the compliance data, rules and settings, and the account information associated with the individual; electronically obtaining holdings in the first account and the second account; and electronically determining whether the holdings in the first account and the second account comply with a predetermined rule of the at least one predetermined rules; automatically electronically retrieving updated account information from the first account and the second account; and storing the updated account information. - View Dependent Claims (16, 17, 18, 19, 20)
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21. A computer implemented method comprising:
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electronically identifying an individual to be monitored for account compliance; electronically registering the individual with a compliance monitoring system; electronically receiving from the individual account information associated with the individual, wherein the account information is associated with accounts at a plurality of financial institutions; electronically storing the received account information; electronically generating at least one predetermined rule that applies to all monitored transactions requested by the individual, wherein generating comprises using the compliance data, rules and settings, and the account information associated with the individual; electronically obtaining holdings in the accounts; and electronically determining whether the holdings in the accounts fail to comply with at least one rule of the at least one predetermined rules; automatically electronically retrieving updated account information from the account; and storing the updated account information. - View Dependent Claims (22, 23)
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24. A computer implemented method comprising:
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electronically storing compliance data, rules and settings, comprising account registration rules, account trading rules, and screening criteria in a compliance monitoring system; electronically identifying an entity to which an account holder is to delegate access to data associated with the account holder; electronically identifying data that the entity is permitted to access; electronically identifying activities that the entity is permitted to perform, comprising electronically determining whether activities comply with the compliance data, rules and settings; and electronically storing the identity of the identified entity, the identified data, and the identified activities in a central location. - View Dependent Claims (25, 26, 27, 28, 29, 30)
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31. One or more computer-readable media having stored thereon a computer program that, when executed by one or more processors, causes the one or more processors to:
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electronically store compliance data, rules and settings, comprising account registration rules, account trading rules, and screening criteria in a compliance monitoring system; electronically identify an employee to be monitored for compliance; electronically register the employee with a compliance monitoring system; electronically receive account information associated with the employee; electronically store the received account information;
generate at least one predetermined rule that applies to all monitored transactions requested by the employee, wherein generating comprises using the compliance data, rules and settings, and the account information associated with the employee;electronically identify transactions associated with the account; and electronically determine whether the transactions associated with the account comply with a predetermined rule of the at least one predetermined rules; electronically retrieve updated account information from the account; and store the updated account information. - View Dependent Claims (32, 33, 34)
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Specification