Answering Disclosure Questions
Learn how to accurately respond to the Disclosure Questions on the MU1 form to report any legal, financial, or regulatory issues affecting your company or its principals.
About this task
The Disclosure Questions section of the Company (MU1) Form requires you to answer a series of questions regarding your company’s regulatory, civil, or criminal history. You must answer every question. If the answer to any question is Yes, you must provide a corresponding disclosure explanation in the Disclosure Explanations section. You may also provide explanations for No answers when clarification is needed.
Disclosure Questions are reviewed by regulators as part of their decision to approve or deny a license. If your company’s response changes over time—for example, from No to Yes—you must update both the Disclosure Questions and the Disclosure Explanations section. Refer to the guidance in the NMLS Policy Guide for definitions and disclosure standards.
Procedure
- Navigate to the NMLS Login page (State Context).
- Log in to your NMLS account.
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Select from the menu.
The Company Filing screen is displayed.
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Select Create New Filing.
The Company Form (MU1) opens, beginning on the Business Activities screen.
- In the left navigation panel, select Disclosure Questions.
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For each question, select either Yes or No.
If you answer Yes to any question, you must later complete the Disclosure Explanations section with relevant details.
- Click Save to record your responses.
- Continue with the rest of the MU1 filing or proceed to the Disclosure Explanations section to add explanations as needed.