ACS Securities Administrator (IR20/20)
The Securities Administration software is designed to provide all of the features needed for backoffice processing from the origination to the dissolution of the security. Included are the following:
Wholesaler/Marketing
Module
Region/State/Investor
Type ranking reports are available which show how equity is raised. The
module allows for setting up selling agreements with brokerage firms and tracks
budget to actual sales. Wholesalers can track contacts with reps and
view fulfillment orders and shipping status on line.
Fulfillment
Sales kits
and brochures can be set up as they are cleared by the SEC and each of the
states that approve sales of the securities. As requests are made for shipping
sales information, the system tracks who ordered the item and verifies that
the recipient can receive the items requested. Pick lists are created
to select the requested items from inventory and shipping documents are printed
to attach to the shipments. The system allows for costing each item and
the shipping costs for later comparisons of sales to actual shipments.
Order
Input
As orders
for the security are received, they are input and the investor is subjected
to suitability and securities tests. If the sale can be made, the investor
is entered and confirmations of the purchase are printed. If the security
is subject to Blue Sky laws, the Blue Sky tests are made prior to acceptance.
Investor
Relations
Investors are tracked using an investor ID that allows the investor to invest
in multiple securities, yet receive consolidated reports. Multiple
addresses are allowed for registration, correspondence, distributions and tax
reports.
A complete contact manager subsystem has been built in so that all telephone or correspondence with the investor can be recorded electronically. If desired, hard copy information can be scanned in using an image system and attached to the investor record for later retrieval.
An audit trail of all
changes records changes before and after as well at the date, time and user
requesting the change.
Commissions
The commission
module allows for standard fixed rate commissions to reps as well as "stair
step", trailing, and due diligence fees. Most commissions are paid to
the brokerage firm with detailed commission reports that break down the commission
check by selling rep.
Distributions
Distributions to investors
can be made via a check, wire transfer, or a dividend reinvestment. A complete
history of distributions is maintained on line and can quickly be analyzed by
date, type and inception-to-date for a single investment, or an entire investment
portfolio.
Bank reconciliation
features are available which make reconciliation easy with check clearing information
supplied from the bank each month.
Tender
Offer Tracking
If tender
offers are made for a security, the system will track the offers made by investor
and provide reports to indicate the success of the offer. After the tender
offer period has closed, the system will transfer all of the affected investments
and prepare tender offer distributions to the investors who have tendered their
holdings.
Proxy
Voting
Investors
who submit proxies are tracked and detailed as well as summary reports provide
immediate access to the status of the proxy vote. All proxy votes can
be retained for any future inquiries.
Transfers
Transfer
requests are recorded along with the ability to send transfer rejections or
documents. Once the appropriate transfer documents have been completed,
the investment is transferred to the new investor and appropriate confirmations
and certificates are prepared.
Tax
Reporting
For
partnership holdings, an investor K1 is prepared. The system supports
electronic filing with the IRS aswell as appropriate state K1 reporting.
If the securityrequires 1099 reporting, appropriate 1099 reports areprepared
for the individual investors as well the IRS.
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