U.S. patent application number 16/397872 was filed with the patent office on 2019-08-15 for obtaining consent for electronic delivery of compliance information.
The applicant listed for this patent is Broadridge Investor Communication Solutions, Inc.. Invention is credited to Stephen V. Burakoff, Robert A. Fein, Sergiu S. Simmel.
Application Number | 20190251289 16/397872 |
Document ID | / |
Family ID | 21812771 |
Filed Date | 2019-08-15 |
United States Patent
Application |
20190251289 |
Kind Code |
A1 |
Burakoff; Stephen V. ; et
al. |
August 15, 2019 |
OBTAINING CONSENT FOR ELECTRONIC DELIVERY OF COMPLIANCE
INFORMATION
Abstract
A method and related system obtains consent from an individual
for computer-aided delivery of compliance information. Initially, a
computer-readable data storage device is provided to the
individual. The device stores the compliance information and
computer-executable instructions. By inserting the device into a
computer, the instructions are executed and the individual is
prompted by the computer to consent to the computer-aided delivery
of additional compliance information. Once consent is indicated, it
is communicated from the individual's computer to another computer
such as a server over, for example, a modem connection. Having
secured the individual's consent, the additional compliance
information can be delivered to the individual's computer as, for
example, a file attachment to an email message.
Inventors: |
Burakoff; Stephen V.;
(Chestnut Hill, MA) ; Simmel; Sergiu S.;
(Brookline, MA) ; Fein; Robert A.; (Newton,
MA) |
|
Applicant: |
Name |
City |
State |
Country |
Type |
Broadridge Investor Communication Solutions, Inc. |
Edgewood |
NY |
US |
|
|
Family ID: |
21812771 |
Appl. No.: |
16/397872 |
Filed: |
April 29, 2019 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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16135919 |
Sep 19, 2018 |
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16397872 |
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15489336 |
Apr 17, 2017 |
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16135919 |
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15180594 |
Jun 13, 2016 |
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15489336 |
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14486174 |
Sep 15, 2014 |
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15180594 |
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14058988 |
Oct 21, 2013 |
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14486174 |
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13025618 |
Feb 11, 2011 |
8566195 |
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14058988 |
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11804782 |
May 21, 2007 |
7890399 |
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13025618 |
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10035966 |
Nov 9, 2001 |
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11804782 |
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09023039 |
Feb 12, 1998 |
6782506 |
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10035966 |
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Current U.S.
Class: |
1/1 |
Current CPC
Class: |
G06Q 40/025 20130101;
G06Q 99/00 20130101; G06Q 10/107 20130101; G06Q 30/018 20130101;
G06F 40/134 20200101; G06Q 40/00 20130101; H04L 51/18 20130101;
G06Q 20/40 20130101; G06Q 40/04 20130101; G06Q 40/06 20130101; G06F
21/6245 20130101; G06F 21/606 20130101; G06F 40/14 20200101; G06F
21/6209 20130101; G06Q 40/02 20130101 |
International
Class: |
G06F 21/62 20060101
G06F021/62; G06F 17/22 20060101 G06F017/22; H04L 12/58 20060101
H04L012/58; G06F 21/60 20060101 G06F021/60; G06Q 40/02 20060101
G06Q040/02; G06Q 20/40 20060101 G06Q020/40; G06Q 99/00 20060101
G06Q099/00; G06Q 40/06 20060101 G06Q040/06; G06Q 40/04 20060101
G06Q040/04; G06Q 40/00 20060101 G06Q040/00; G06Q 30/00 20060101
G06Q030/00; G06Q 10/10 20060101 G06Q010/10 |
Claims
1. A method for obtaining consent for computer-aided delivery of
information, the method comprising: providing, to an individual,
information relating to consent to computer-aided delivery of
information to the individual; prompting the individual to consent
to the computer-aided delivery of information; and communicating
the individual's consent to a computer.
2. The method of claim 1 further comprising delivering a
notification to the individual about the information.
3. The method of claim 2 wherein the notification comprises an
identification of the location of the additional information.
4. The method of claim 2 wherein the notification comprises an
address of a site on the World Wide Web where the additional
information is located.
5. The method of claim 2 wherein the notification comprises
instructions on accessing the information with the assistance of a
computer.
6. The method of claim 1 further comprising storing the
communicated consent.
7. The method of claim 1 further comprising sending the individual
the information via computer-aided delivery.
Description
RELATED APPLICATIONS
[0001] This application is a divisional of U.S. application Ser.
No. 10/035,966, filed Nov. 9, 2001, now pending, which is a
continuation of U.S. application Ser. No. 09/023,039, filed Feb.
12, 1998, now U.S. Pat. No. 6,782,506, issued Aug. 24, 2004, the
disclosures of which are incorporated by reference herein.
TECHNICAL FIELD
[0002] This invention relates to obtaining consent from an
individual to the electronic delivery of financial information such
as that required by the Securities and Exchange Commission (e.g., a
"sticker update" to a mutual fund prospectus already in the
possession of the individual).
BACKGROUND INFORMATION
[0003] The Securities and Exchange Commission (SEC) requires that
certain individuals such as prospective and existing investors be
delivered certain information about investment vehicles such as
mutual funds. In the context of a prospective investor in a
particular mutual fund, for example, a mutual fund prospectus must
be delivered to the prospective investor in such a way that it
provides the prospective investor with notice and access. The
delivery requirement can be met by sending the prospectus to the
prospective investor via the U.S. Postal Service.
[0004] Delivering paper prospectuses and hard copies of other
SEC-required documents (e.g., "sticker updates" to mutual fund
prospectuses) to prospective and existing investors is a time
consuming and costly endeavor for investment companies. Printing
and mailing costs alone can amount to thousands or millions of
dollars per year for a single mutual fund.
[0005] The SEC has indicated that mutual fund prospectus documents
can be distributed in electronic format with the caveat that any
electronic delivery must meet at least the SEC's notice, access,
and evidence of delivery requirements.
SUMMARY
[0006] In accordance with the invention, the physical delivery of
electronic media containing SEC-required information (e.g., a
computer-readable diskette that is sent to a person via the U.S.
Postal Service and that contains in electronic digital format a
mutual fund prospectus) can be used as a mechanism to establish
electronic delivery of additional SEC-required information (e.g., a
"sticker update" to the prospectus the person just received on the
diskette) or to obtain the receiver's consent to the electronic
delivery of a notification about additional SEC-required
information. Such information can be called compliance
information.
[0007] As used herein, the term "compliance information" is
intended to mean any information or data that is required or
suggested by the Securities and Exchange Commission (SEC), or
similar state or national entity or entities in the U.S. or abroad
(e.g., the National Association of Securities Dealers (NASD), state
securities commissioners, and state insurance commissioners), to be
filed or to be provided to certain individuals such as prospective
and existing investors in mutual funds. Examples of documents
containing compliance information include mutual fund prospectuses,
updates to mutual fund prospectuses (commonly referred to in the
industry as "stickers" or "sticker updates"), annual and
semi-annual reports for mutual funds, Statements of Additional
Information (SAIs) for mutual funds, preliminary prospectuses ("red
herrings"), and final prospectuses. Other examples are disclosure
documents for variable insurance products such as variable
annuities. Still other examples are disclosure documents for any of
a variety of other investment vehicles offered by essentially any
entity including, for example, a mutual fund issuer, a corporation,
a partnership, an investment company, etc. These types of documents
can be called "compliance documents" or "regulated financial
information documents" (RFIDs), and the compliance information
contained in such documents generally includes financial,
performance, and/or other disclosure information that the SEC (or
similar state or national entity or entities in the U.S. or abroad)
has determined should be regulated in some fashion such that, for
example, certain individuals are provided with sufficient material
to make a reasoned and informed decision about whether to invest or
continue to invest money in the investment vehicle described in the
RFID.
[0008] In a disclosed embodiment according to the invention, a
computer-readable diskette or other physical electronic media is
sent to a prospective investor through the mails using, for
example, the U.S. Postal Service as the carrier or it is delivered
to the prospective investor by hand. The diskette contains, in
electronic digital format, a mutual fund prospectus. The
prospective investor then inserts the diskette into a computer and,
using one of a variety of possible text editors, word processors,
or browsers, is able to display and read the prospectus on the
computer monitor. The computer prompts the prospective investor in
some fashion to respond to a request for consent to the electronic
delivery of at least one additional compliance document or to the
electronic delivery of a notification of the existence of at least
one additional compliance document that the person agrees to obtain
and review. Having secured the individual's consent, the software
on the diskette and/or the computer then electronically
communicates (e.g., via a network connection, a modem, etc.) that
consent to some other computer for logging. That other computer
could be a server maintained by, for example, the issuer of the
mutual fund or an independent service. Depending on the specific
consent requested and given, the individual might then sometime in
the future receive by electronic mail ("email") an update to the
mutual fund prospectus ("sticker") provided on the diskette, or the
individual could receive a notification by email that a particular
site on the World Wide Web has posted the mutual fund sticker and
that the individual should view the sticker at that site by a
certain date. The electronic connection is a computer
communications link that can be made in a variety of ways including
a direct dial-up connection, a private or public network
connection, etc. The physical delivery of the diskette to the
prospective investor thus is used as a mechanism to obtain consent
from the prospective investor for future electronic delivery of
additional compliance information.
[0009] In one aspect, the invention involves a method and related
system for obtaining consent for computer-aided delivery of
compliance information. The method and related system provide an
individual at a first computer (e.g., a PC owned or used by the
individual) with compliance information. The compliance information
is provided in such a format that the individual can use the first
computer to review it. The first computer also is used to prompt
the individual to consent to the computer-aided delivery of
additional compliance information. Having obtained the consent, the
first computer electronically communicates the individual's consent
from the first computer to a second computer (e.g., a server). The
second computer can store the communicated consent and/or forward
it to a third computer.
[0010] In some embodiments of this aspect of the invention, the
individual is provided with the compliance information by
forwarding to the individual a computer-readable data storage
device (e.g., a 3.5 inch computer diskette or a CD ROM) that
contains the compliance information as well as computer-executable
instructions that prompt the individual for the consent. In other
embodiments, the individual is provided with the compliance
information in another manner such as by download to the first
computer from a source on the Internet. Regardless of the manner in
which the compliance information is provided to or obtained by the
individual, after the individual's consent is obtained and
communicated to the second computer, the additional compliance
information is delivered to the first computer. This delivery of
the additional compliance information can occur immediately upon
receipt of the consent by the second computer or it can happen at a
later time, and it can be a delivery from the second computer or
some other computer. Also, instead of delivering the additional
compliance information to the first computer, a notification about
the additional compliance information can be delivered to the first
computer such as an email message sent to the first computer that
identifies the existence and location of the additional compliance
information thereby notifying the individual to, for example, visit
a particular site on the World Wide Web section of the Internet to
view the additional compliance information. Whether it is the
actual additional compliance information or a notification thereof
that is delivered to the first computer pursuant to the
individual's consent, the delivery is accomplished electronically.
That is, the delivery is over a computer communications link (e.g.,
a modem connection utilizing telephone lines, a network connection
utilizing the Internet or some other computer network, etc.). As an
example, the electronic delivery can take the form of a file
attachment to an email message.
[0011] Also, in some embodiments according to this aspect of the
invention, the compliance information is contained in a mutual fund
prospectus, and the additional compliance information comprises one
or more additions or changes ("stickers") to that mutual fund
prospectus or an additional RFID. The compliance information and
the additional compliance information can be contained in the a
variety of other types of compliance documents including, but not
limited to, mutual fund annual reports, mutual fund semi-annual
reports, replacement mutual fund prospectuses, mutual fund
Statements of Additional Information (SAIs), etc.
[0012] In another aspect, the invention relates to a manufacture
comprising a computer-readable data storage device. The device
stores compliance information and computer-executable instructions.
The instructions execute on a first computer to cause the first
computer to prompt an individual using the first computer to
consent to computer-aided delivery of additional compliance
information. The instructions also execute on the first computer to
cause the first computer to obtain the individual's consent and
then communicate that consent from the first computer to a second
computer.
[0013] Embodiments in accordance with this other aspect of the
invention can include the following features. The instructions
stored by the device also can execute on the first computer to
cause the first computer to display the additional compliance
information after the additional compliance information is received
at the first computer. The compliance information can comprise a
mutual fund prospectus, and the additional compliance information
can comprise one or more additions or changes to the mutual fund
prospectus.
[0014] In one embodiment a method for obtaining consent for
computer-aided delivery of compliance information is offered, the
method comprising: electronically providing computer-executable
instructions for obtaining consent from an individual for
subsequent computer-aided delivery of additional compliance
information to the individual; prompting, by execution of the
instructions on a first computer, the individual for consent to the
subsequent computer-aided delivery of the additional compliance
information to the individual; communicating the individual's
consent from the first computer to a second computer, the second
computer connected to the first computer over a network; and
transmitting additional compliance information from the second
computer to the first computer. In a further embodiment the
computer-executable instructions includes instructions for
providing a first set of compliance information to the
individual.
[0015] Another embodiment offers a system for obtaining consent
from a user for computer-aided delivery of compliance information,
the system comprising: a sending computer arrangement programmed to
send software to a user device, the software comprising computer
executable instructions; and the user device programmed to: execute
the computer executable instructions, prompt the user to consent to
the computer aided delivery of compliance information, and
communicate the consent to a second device. In a further embodiment
the second device is the sending computer arrangement. In another
embodiment the software is sent in a message over a network. In
still a further embodiment the computer executable instructions
allow the user to consent by replying to the message. In still a
further embodiment the computer executable instructions allow the
user to consent by following a link in the message. In still a
further embodiment the computer executable instructions allow the
user to consent by executing a form included in the message. In
still a further embodiment the sending computer arrangement is
further programmed to send compliance information to the user
device. In still a further embodiment the sending computer
arrangement is further programmed to send a notification about the
compliance information to the user device. In still a further
embodiment the notification comprises a message sent over a
network. In still a further embodiment the notification contains a
link to a location of the compliance information. In still a
further embodiment the location of the compliance information is a
web page. In still a further embodiment the web page is stored in
the sending computer arrangement. In still a further embodiment the
compliance information comprises one or more additions or changes
to a mutual fund prospectus. In still a further embodiment the
second device stores the communicated consent. In still a further
embodiment the sending computer arrangement comprises a server.
[0016] A further embodiment offers a computer-implemented method of
providing an entity with compliance information stored in a
compliance information database, the method comprising: identifying
a specific compliance information record in the compliance
information database to be provided; and directing a database
management function to send a hyperlink to the entity pointing to
the specific compliance information record.
[0017] Another embodiment offers a method of providing access to a
compliance information database, the method comprising: under
control of a first client system: sending an access instruction
message; and under control of a server system: receiving the access
instruction message from the first client system, identifying a
specific compliance information record within the access
instruction message, identifying a destination address within the
access instruction message, creating a hyperlink pointing to the
specific compliance information record in the compliance
information database, and transmitting the hyperlink to the
destination address. In a further embodiment the destination
address is located at a second client system and the hyperlink is
transmitted from the server system to the second client system via
the Internet. In still a further embodiment the destination address
is located at a second client system, the method further
comprising: under control of the second client system: receiving
the hyperlink from the server system, and accessing the server
system via the hyperlink. In still a further embodiment the method
further comprises: under control of the server system: detecting an
access to the server system by the second client system via the
hyperlink; determining whether or not the hyperlink is valid; and
when the hyperlink is determined to be valid: identifying a
specific compliance information record from the hyperlink,
retrieving the specific compliance information record from the
compliance information database, and causing the specific
compliance information record to be displayed on the second client
system.
[0018] Another embodiment offers a computer-implemented method of
providing compliance information stored in a compliance information
database, the method comprising: receiving an instruction that
identifies a specific compliance information record in the
compliance information database; creating a hyperlink pointing to
the specific compliance information record; and sending the
hyperlink to a destination address. In still a further embodiment
the computer-implemented method further comprises receiving an
access request to access the compliance information database via a
received hyperlink; determining whether the received hyperlink is
valid; and when the received hyperlink is determined to be valid,
identifying a specific compliance information record from data in
the received hyperlink and providing the specific compliance
information record to a source of the received hyperlink.
[0019] Another embodiment offers a system for sharing compliance
information data stored in a compliance information database, the
system comprising: a first client system operative to: search the
compliance information database, identify a specific compliance
information record, identify a destination address, and send an
access instruction message with respect to the specific compliance
information record and destination; and a database server system
operative to: receive the access instruction message, determine the
specific compliance information record and destination address from
the access instruction message, create a hyperlink pointing to the
specific compliance information record in the compliance
information database, and send the hyperlink to the destination
address. In a further embodiment the first client system
communicates with the database server system over the Internet. In
still a further embodiment the first client system communicates
with the database server system over an intranet.
[0020] Another embodiment offers a computer program product
comprising: a computer-readable medium; and computer program
instructions on the computer-readable medium, wherein the computer
program instructions, when executed by a computer, direct the
computer to perform a method of sharing compliance information data
stored in a compliance information database, the method comprising:
receiving an access instruction, identifying a specific compliance
information record and a destination address in the access
instruction, creating a hyperlink pointing to the specific
compliance information record, and sending the hyperlink to the
destination address. In a further embodiment the method further
comprises at least one of: receiving the access instruction over
the Internet; and sending the hyperlink over the Internet.
[0021] Another embodiment offers a system for sharing compliance
information data stored in a compliance information database, the
system comprising: a database server system operative to: receive
an access instruction message; determine a specific compliance
information record and destination address from the access
instruction message; create a hyperlink pointing to the specific
compliance information record in the compliance information
database; and send the hyperlink to the destination address. In a
further embodiment a first client system sends the access
instruction message to the database server system over the
Internet. In still a further embodiment the first client system
sends the access instruction message to the database server system
over an intranet.
[0022] Another embodiment offers a method of obtaining consent for
electronic delivery of compliance information, the method
comprising: (a) identifying a specific compliance information
record in the compliance information database to be provided; and
(b) directing a database management function to send a hyperlink to
the entity pointing to the specific compliance information
record.
[0023] The foregoing and other objects, aspects, features, and
advantages of the invention will become more apparent from the
following description and from the claims.
BRIEF DESCRIPTION OF THE DRAWINGS
[0024] In the drawings, like reference characters generally refer
to the same parts throughout the different views. Also, the
drawings are not necessarily to scale, emphasis instead generally
being placed upon illustrating the principles of the invention.
[0025] FIG. 1A is a diagram of the physical delivery of compliance
information in computer-readable format to an individual.
[0026] FIG. 1B is a diagram showing access of the compliance
information by a computer operated by the individual and showing
consent being provided electronically from the individual's
computer to another computer such as a server.
[0027] FIG. 1C is a flowchart of steps involved in obtaining
consent from the individual using the structures of FIGS. 1A and
1B.
[0028] FIG. 2 is a block diagram of a general purpose computer for
use with the invention.
DESCRIPTION
[0029] Referring to FIG. 1A, a computer-readable storage device 10
is sent via a mail carrier service 12 to an individual 14. As an
alternative to the mail carrier service 12, the individual 14 could
directly receive the device 10 by in-person hand delivery. The
device 10 can be any computer-readable data storage unit such as a
computer diskette, a CD ROM, or a flash memory card. In the
disclosed embodiment, the device 10 is a 3.5 inch computer
diskette. Whatever the form the device 10 takes, it must contain at
least compliance information (as defined above) in a format that is
readable by a computer. In the disclosed embodiment, the device 10
stores a mutual fund prospectus. In addition to the compliance
information, the device 10 also contains computer-executable
instructions (software) for causing the computer to prompt the
individual 14 for consent to the computer-aided delivery of
additional compliance information to the individual 14 and for
causing the computer to forward the consent to another computer.
The mail carrier service 12 can be any of a variety of services
that physically delivery packages and letters from one location to
another including the U.S. Postal Service, United Parcel Service,
or Federal Express. As mentioned previously, the delivery could be
accomplished in person. In the disclosed embodiment, the individual
14 is a prospective or existing investor in, for example, a mutual
fund.
[0030] Referring to FIG. 1B, with the device 10 in hand, the
individual 14 can load it into a computer 16. The computer 16 will
read the compliance information stored on the device 10 and display
it to the individual 14. While it is possible for the computer 16
to use any of a variety of text editors, word processors, browsers,
or other software to display the compliance information on the
device 10 to the individual, in the disclosed embodiment, the
computer 16 uses a "micro browser" stored on the device 10 along
with the compliance information. The micro browser allows the
individual at the computer 16 to review, search, etc. the
compliance information. The micro browser can provide a variety of
useful features to the individual 14 reviewing the compliance
information including hypertext links to other sections of the
mutual fund prospectus and/or to sites on the World Wide Web. In
addition to the micro browser, or as part of the micro browser
software, software on the device 10 is loaded into the computer 16
and executes on the computer 16 to prompt the individual 14 for his
or her consent to the computer-aided delivery of additional
compliance information or for his or her consent to a computer
notification of the existence of additional compliance information.
Once the individual 14 responds to the prompt and indicates his or
her consent, the software causes the computer 16 to communicate
that consent electronically over a computer communications link 18
(e.g., a computer network such as the Internet, the telephone
system, etc.) to another computer 20. The computer communications
link 18 between the individual's computer 16 and the other computer
20 is depicted as a "cloud" in FIG. 1B to indicate that it can be
any of a variety of mediums over which two computers can or could
transfer data. In the disclosed embodiment, the other computer 20
is a server that receives and logs the consent sent from the
individual's computer 16. The other computer 20 can be maintained
by, for example, the issuer of the mutual fund whose prospectus is
stored by the device 10.
[0031] Some additional software features are as follows. In
addition to the micro browser, or as part of the micro browser
software, software on the device 10 is loaded into the computer 16
and executes on the computer 16 to provide a "forms wizard" feature
to the individual 14 to aid in the completion of the various forms
required to purchase the particular financial product(s) described
by the compliance information on the diskette 10. Enrollment forms
for many investment products are complex, and the forms wizard
feature allows the individual 14 to complete such forms accurately
and completely. Other software can be provided to allow the
individual 14 to view various illustrations of quantitative
scenarios. For example, the software can provide, or allow the
downloading and self-extraction of files that provide, the
individual 14 with the ability to enter his or her age and income
and tax information such that the individual can make a
determination based on the illustrations about whether a particular
investment is appropriate or not.
[0032] Getting back to the consent that the individual provides,
the scope of the consent requested of the individual 14 can vary.
Depending on the type of compliance information (e.g., one or more
mutual fund prospectuses, one or more prospectuses for one or more
variable life insurance products, prospectuses for some collection
of mutual funds whether all under the same fund family or not,
etc.) stored by the device 10, the issuer of the particular
investment vehicle described by the compliance information, and/or
other factors, the individual may be requested for his or her
consent to a wide range of things such as the consent to the
computer-aided delivery of all compliance information required by a
particular issuer, the consent to the computer-aided delivery of
all "sticker" updates to the particular mutual fund prospectus that
came stored on the diskette 10, or the consent to just one annual
report related to the particular mutual fund prospectus on the
diskette 10. Also, the scope of the consent can be broad enough to
cover the computer-aided delivery of compliance information from
more than one source or issuer.
[0033] Whatever the specific consent requested and given and then
communicated to the other computer 20, the individual 14 will then
sometime in the future receive by electronic delivery the
additional compliance information. This delivery can be from the
other computer 20 or some other computer that receives the consent
from the other computer 20 (or is otherwise provided with the
consent). In the disclosed embodiment, the additional compliance
information is either a sticker to the mutual fund prospectus on
the diskette 10 or a notification indicating the existence and
location of the sticker. The sticker can be sent from the other
computer 20 to the individual's computer 16 as a file attachment to
an email message. The notification can be sent from the other
computer 20 to the individual's computer 16 as an email message
having the address (Universal Resource Locator or URL) of a site on
the World Wide Web where the sticker is posted, and this email
message can also include a note to the individual 14 that he or she
should view the sticker by a certain date.
[0034] Thus, in accordance with at least one aspect of the
invention, the physical delivery of the diskette 10 to the
individual 14 is used as a mechanism to obtain consent from the
individual 14 for future electronic delivery of at least some
additional compliance information.
[0035] The device 10 itself is an aspect of the invention. The
device 10, whatever form it takes (e.g., a 3.5 inch computer
diskette), includes the compliance information and the software
necessary to at least obtain consent from the individual 14 via the
computer 16 and then communicate the obtained consent to the other
computer 20. The software on the device 10 preferably also includes
the micro browser that can be executed on the individual's computer
16 to cause it at least to display the compliance information and
preferably also the additional compliance information after that is
received at the individual's computer 16 pursuant to the consent
given by the individual 14. The methods of making computer-readable
storage devices, such as 3.5 inch computer diskettes, are well
known and thus are not described herein. Also, the technology to
store software and data generally on such devices is available and
thus is not described herein.
[0036] Referring to FIG. 1C, at least one aspect of the invention
relates to a method 28 having the general steps of getting
compliance information to the individual's computer 16 (step 22),
getting the individual 14 to consent to the computer-aided delivery
of additional compliance information (step 24), and acting on that
consent once given (step 26). More particularly, in the disclosed
embodiment, the method 28 involves physically sending the diskette
10 to the prospective or existing investor 14 (step 30) which is
received by the individual 14 (step 32) and inserted into his or
her computer 16 (step 34). In an alternative embodiment, the
individual 14 does not receive the compliance information and/or
software stored on a physical device 10 but instead uses his or her
computer 16 to download the compliance information and/or software
from a source. The source in the alternative embodiment can be the
other computer 20 or a different computer such as a server on the
Internet. Regardless of the manner in which the compliance
information and/or software gets to the individual's computer 16,
the individual 14 is prompted by his or her computer 16 to consent
to the computer-aided delivery of additional compliance information
or to consent to the computer-aided delivery of a notification of
the additional compliance information (step 36). The individual 14
then indicates his or her consent by, for example, using a mouse of
the computer 16 to click on an OK box displayed on a display of the
computer 16, and the consent is communicated to the logging
computer 20 (step 38). The logging computer 20 stores the consent
received from the individual's computer 16 (step 40), and the
additional compliance information or notification thereof that the
individual 14 agreed to accept electronically is then immediately
or later sent to the individual's computer 16 (step 42).
[0037] The various computers used in the invention (e.g., the
individual's computer 16 and the logging computer 20) can be
general purpose computers. Referring to FIG. 2, at least the basic
components of a general purpose computer 44 typically include a
central processor 46, a main memory unit 48 for storing software
and/or data, an input/output (I/O) controller 50, a display device
51, a communications device 52 such as a modem or a network
interface card, and a data bus 54 coupling these components to
allow communication there between. The memory 48 generally will
include random access memory (RAM) and read only memory (ROM)
chips. The computer 44 typically also has one or more input devices
56 such as a keyboard 58 and a mouse 60. The computer 44 typically
also has a hard drive 62 with hard disks therein and a floppy drive
64 for receiving floppy disks such as the 3.5 inch diskette 10.
Other devices also can be part of the computer 44 including output
devices 66 (e.g., printer or plotter) and/or optical disk drives
for receiving and reading digital data on a CD-ROM. In the
disclosed embodiment, one or more computer programs define the
operational capabilities of the computer 44. These software
programs can be loaded onto the hard drive 62 and/or into the
memory 48 of the computer 44 via the floppy drive 64. The
compliance data stored on the diskette 10 also can be loaded into
the computer 44 via the floppy drive 64.
[0038] In one embodiment, at least the executable version of the
software (e.g., the micro browser) is made to reside on the hard
drive 62, and it is caused to execute by the individual 14
double-clicking an appropriate icon on the display 51 using the
mouse 60. In general, the controlling software and all of the data
utilized by the software are transferred from the diskette 10 and
reside on one or more of the computer's storage mediums such as the
hard drive 62.
[0039] The general purpose computer 44 can be any computer or
workstation (client or server) such as a PC or PC-compatible
machine, an Apple Macintosh, a Sun workstation, etc. The particular
type of computer or workstation is not central to the invention. In
fact, the invention can be implemented in a variety of ways
including an all-hardware embodiment in which dedicated electronic
circuits are designed to perform all of the functionality which the
programmed computer can perform. The preferred embodiment of the
invention is an implementation in software for execution on one or
more general purpose computers such as PCs running the Microsoft
Windows or Microsoft Windows 95 operating system.
[0040] Variations, modifications, and other implementations of what
is described herein will occur to those of ordinary skill in the
art without departing from the spirit and the scope of the
invention as claimed. Accordingly, the invention is to be defined
not by the preceding illustrative description but instead by the
spirit and scope of the following claims.
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