Disclosure Explanations

An explanation must be provided for each disclosure question that has a Yes response. A separate explanation should be provided for each event resulting in aYes response to a disclosure question.

A single explanation can be associated to multiple Yes responses and each explanation allows a single PDF to be uploaded in support of the explanation. Also, multiple explanations may be provided if multiple events are related to a single question.

You may provide an explanation for a No response only if you answer No to a disclosure question and have information to provide to the regulator to clarify the response.

Companies are required to update their Disclosure Explanations when needed, including adding a new explanation for a new event which may or may not require a change in a Yes or No response.

Required disclosure question changes must be made within thirty days or within the time specified under state law, whichever is shorter.