Investors

Lifecycle

The status of an Investor is tracked by the status attribute, which can be found in the Investor object.

status	Description	Next Status
`Pending`	Describes the status immediately after an Investor is created through the "Create an Investor" endpoint, and the Partner has passed along the investorReferenceId. Investors in a `pending` state cannot view the private company marketplace, SPVs, Investments, or otherwise interact with the system. Note that investors will be left in `Pending` regardless of whether or not full PII is passed in the initial Create Investor API call.	`Limited`
`Limited`	Describes the stage immediately after an Investor has updated their accreditation status. Investors in the `Limited` state can view the private company marketplace (including live SPVs and Prospective Offerings) and can submit Indications of Interest. However, `Limited` Investors cannot Subscribe to SPVs.	`Active`
`Active`	Describes the status where a Partner has successfully updated the Investor's information and verified their accreditation status through the `/primary/v1/investor/accreditation` endpoint. Investors in an `Active` state can create and complete Subscriptions in live SPVs.	`Inactive`, `Limited`
`Inactive`	Describes the status where either: (1) an Investor's PII has been removed from Monark's system, or (2) the Investor is otherwise unable to access the system. Investors who delete their brokerage accounts may also be moved to this state.	`Inactive`, `Pending`

KYC/AML

Monark also performs KYC/AML checks on Investors who subscribe to an SPV. This is completed once a Subscription is created for an Investor. Monark's team will update each Investor's KycStatus attribute after the check is complete. The checks that are performed vary depending on the jurisdiction of the platform through which the Investor accessed the marketplace and subscribed to the SPV.

status	Description	Next Status
`Passed`	Monark team members have performed a KYC check on the Investor, and the Investor passed the check without any errors or requests for additional information. An Investor's KYC status, once set to `Passed`, will remain there for two years. Investors must have their KYC status set to `Passed` in order for their Subscriptions to have their status set to `Complete`.	`Pending`, `Rejected`
`Pending`	Monark team members have reviewed the Investor's information and determined that additional information is required. We will collaborate with our Partners to remediate any errors or collect additional data from the Investor as needed.	`Passed`, `Rejected`
`Rejected`	Monark team members have reviewed the Investor's information and have determined that the Investor should not be allowed to subscribe to an SPV. This is unlikely and may only be the case in extreme circumstances.	`Rejected`

Note: Monark may also have a KYC reliance in place with our Partners. Any Investor associated with a Partner that has a KYC reliance letter in place with Monark will have theirKycStatus automatically set toPassed