Example Two – One ‘Yes’ Response, Two Events

An individual has twice previously been named in financial services-related consumer-initiated civil litigation (Event 1 and Event 2). Both lawsuits were settled for some amount.

About this task

In NMLS, the Individual would need to answer Question (P)(3), related to certain civil litigation, ‘Yes’. If the Individual chooses to explain this response in NMLS, he or she would complete a separate Explanation for each event as follows:

Procedure

  1. Click Add Explanation for “Yes” Responses on Disclosure Explanations page.
  2. Provide Brief Description of Explanation for Event 1.
  3. Provide Disposition for Event 1. If “Other”, also provide Disposition Description.
  4. Provide Explanation Detail for Event 1.
  5. Check box next to Question (P)(3) for Event 1.
  6. Click Browse and select supporting file from your computer for Event 1.
    (Supporting file should be provided only if applicable.)
  7. Click Save.
  8. Complete Steps 1 – 7 for Event 2.

Results

A separate Explanation is listed on the Disclosure Explanations list page for each event.

To Update or Delete an Explanation: An Explanation may be updated or deleted by clicking the edit icon next to the Explanation. However, previously submitted versions of the Explanation will be viewable in Historical Filings even after the Explanation is updated or deleted.