Brokerage account fund management method

Details Brokerage account fund management method Brokerage account fund management method

2011-01-18

2011-01-18

Kyle, Charles R (Department: 3695)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S035000

Reexamination Certificate

active

07873571

ABSTRACT:
The funds of a client of a brokerage, are automatically transferred into and retrieved from affiliated banks on an as-needed basis. Funds on deposit at banks are F.D.I.C. insured and earn interest. Multiple banks that are commonly owned and separately chartered and which receive brokerage account funds, enable the brokerage to multiply the F.D.I.C. insurance coverage for client funds. The aggregate amount of funds transferred into affiliated banks is limited to prevent runs on a bank. The funds of a client transferred into each bank is limited to multiply the amount of FDIC insurance that can be provided to each client of a brokerage.

REFERENCES:
patent: 4694397 (1987-09-01), Grant et al.
patent: 5893078 (1999-04-01), Paulson
patent: 6374231 (2002-04-01), Bent et al.
patent: 7509286 (2009-03-01), Bent et al.
patent: 7672886 (2010-03-01), Bent et al.
patent: 2002/0091637 (2002-07-01), Bent et al.
patent: 2003/0135437 (2003-07-01), Jacobsen
patent: 2004/0002910 (2004-01-01), Mizukami
patent: 2005/0108149 (2005-05-01), Bent et al.
patent: 2005/0228733 (2005-10-01), Bent et al.
F.D.I.C.'s Financial Institution Employee's Guide to Deposit Insurance Principles (Apr. 4, 2002) http://web.archive.org/web/20020404201805/http://www.fdic.gov/deposit/deposits/financial/principles.html.
Security First Launches Virtual Financial Manager 4.0. Nov. 12, 1998. PR Newswire, p. 1681.
“Financial Management Account—The Insured Deposit Acount”; from www.salomonsmithbarney.com; Mar. 25, 2002; pp. 1-2.
“Bank Deposit Program”; from www.smithbarney.com; May 30, 2003; pp. 1-3.
“Insured Deposit Account”; from www.smithbarney.com; May 30, 2003; pp. 1-2.
Sample Statement of Account; Wayne Hummer Investments LLC; Mar. 30, 2002; pp. 1-4.
Select Consolidation Summary; Salomon Smith Barney; Oct. 28, 2001; pp. 1-7.
“New DBP Deposit and Withdrawal Procedures”; Sep. 2001; pp. 1-2.
“Bank Deposit Program Disclosure Statement”; Salomon Smith Barney; Nov. 2001; pp. 1-4.
Nelson, Judy, Merrill Lynch; client letter with attachments; Mar. 2000; pp. 1-13.
“General Questions”; Salomon Smith Barney; Feb. 2002, pp. 1-25.

Affiliated with

Also associated with

Rating

Brokerage account fund management method does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Brokerage account fund management method, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Brokerage account fund management method will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-2632677