Disclosure Questions

All Disclosure Questions must be answered.


Disclosure Questions screen for NMLS Company MU1 application

The definitions for these disclosure questions are contained in the Explanation of Terms section of this Guidebook.

Any Yes response requires an explanation to be provided in the Disclosure Explanations section. A single PDF file can be uploaded with any applicable documentation. The regulator will be able to review the explanation and documentation.

While a licensee may have disclosed a Yes answer in a previous application, when transitioning their license onto NMLS they will have to answer Yes again, if still relevant.

When responding to questions regarding Control Affiliates, all current and former Control Affiliates for the last ten years must be disclosed.

Financial services related convictions entered by a municipal court (if the violation stems from a city ordinance and not necessarily from criminal code, for example) rather than a criminal court should generally be disclosed under the Civil Disclosure section of the disclosure questions.

Disclosure of a sealed or expunged conviction or item is not required if relevant state law or a court order does not require or prohibits disclosure.

Disclosure of a felony or misdemeanor case disposed of in juvenile court is not required if relevant state law or a court order does not require or prohibits disclosure.

Companies who in the normal course of business face multiple civil actions must respond affirmatively to the questions in F and G. An explanation stating this fact is required and further details related to specific cases may be required, including supporting documentation for each civil action. Please consult state licensing requirements to verify what information is required to be submitted through NMLS.

Companies are required to update their Disclosure Questions when circumstances change in accordance with state law or within 30 days, whichever is shorter. This includes answers that are changed from Yes to No. A change in response requires an update to the Disclosure Explanations section.