Checklist For Coordinated Equity Review Sheet - Pennsylvania printable pdf download

Checklist for Coordinated Equity Review

An application for coordinated state review (CER-1) is received.

Name of Applicant __________________________________________________

Within three (3) business days after receipt of the CER-1, Pennsylvania, the

Program Coordinator, will contact and identify both a Lead Merit state and a Lead

Disclosure state. It will also contact all non-lead states to inform them that they

have ten (10) business days to review the file and to relay their comments to the

lead states. Contact will be made by either fax, telephone, or E-mail when possible.

Lead Merit State __________________________________________________

Lead Disclosure State ______________________________________________

The Program Coordinator calls the issuer to notify them that the applications have

been received and who the Lead Examiners are.

During the ten (10) business days after providing the notice, the Lead Examiners

work together to assess and organize the comments received from other reviewing

jurisdictions. If they do not understand, or if they disagree with, a comment from

another jurisdiction they will call the analyst who issued the comment and clarify or

resolve the comment at this time. Reviewing jurisdictions should fax or E-mail their

comments to both Lead Examiners.

Following the ten (10) business day comment period, the Lead Examiners will

prepare and promptly issue the coordinated review letter which should be issued no

later than fifteen (15) business days after the original receipt of the file. A copy of

that letter should be mailed, faxed, or E-mailed to all non-lead states.

The Lead Examiners resolve the comments with issuer’ s counsel. Resolving

comments may or may not require the Lead Examiners to check with the original

jurisdiction to ensure that counsel’ s responses satisfy their comments.

After all disclosure comments are resolved, the Lead Disclosure Examiner will

notify his or her states via fax, telephone, or E-mail the same day. Once the Lead

Examiner clears the application all participating disclosure states agree to clear the

application.

After all merit comments are resolved, the Lead Merit Examiner will notify his or

her states via fax, telephone, or E-mail the same day. Once the Lead Examiner

clears the application all participating merit states agree to clear the application.

This notice should also request that each state make the application effective

concurrently with SEC effectiveness and upon receiving notice by the issuer of its

effectiveness date.

Checklist For Coordinated Equity Review Sheet - Pennsylvania