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How to Monitor Changes Made to Previously Reviewed Deals

Overview​

As a broker on the WhiteLabel Community Deals Platform, tracking changes and revisions to deals you've previously reviewed is an essential part of maintaining deal quality and compliance. Issuers may update their deals in response to your feedback or to reflect changing circumstances, and it's important to stay on top of these modifications. This guide will walk you through the process of efficiently monitoring, reviewing, and responding to changes in previously reviewed deals.

Prerequisites​

Before tracking deal revisions, you should:

  • Have an active broker account on the platform
  • Have previously reviewed or commented on the deals you're monitoring
  • Understand the platform's notification and tracking systems
  • Be familiar with the original deal details to identify changes
  • Know which types of changes require broker re-review or approval

Step-by-Step Instructions​

Step 1: Access the Deals Requiring Re-Review​

  1. From the Broker Dashboard, look for deals that have been updated since your last review
  2. These may appear in a dedicated "Updated Deals" section or be flagged in your pending deals list
  3. Alternatively, navigate to "All Deals" and look for deals with a status indicator showing updates
  4. Pay attention to platform notifications about deal changes

Step 2: Review the Recent Activity Log​

  1. Once you've accessed a deal that has been updated, check the "Recent Activity" section

  2. This typically appears on the dashboard or within the deal details

  3. The activity log shows:

    • Who made changes (usually the issuer)
    • When changes were made
    • The type of action taken (document upload, field update, etc.)
    • Brief description of the change

  4. Use this information to get a quick overview of what has been modified

Step 3: Access the Updated Deal​

  1. Click on the deal title to open the full deal details
  2. Navigate to the "Comments" tab to see if the issuer has left any notes about their changes
  3. Look for system-generated messages indicating what was updated
  4. Check for direct messages from the issuer explaining their revisions

Step 4: Review Document Changes​

  1. If documents have been updated:

    • Navigate to the "Documents" tab
    • Look for indicators showing which documents are new or modified
    • Document upload dates can help identify recent changes
    • Some platforms may highlight or flag changed documents

  2. Compare the current version with the previous version:

    • Use the platform's document comparison tool if available
    • Otherwise, download both versions for side-by-side comparison
    • Pay attention to key sections that commonly change (terms, financials, risk factors)

Step 5: Identify Field and Data Changes​

  1. For changes to deal data fields:

    • Review the deal details page thoroughly
    • Some platforms highlight changed fields
    • Pay particular attention to:
      • Offering terms (amount, price, minimum investment)
      • Timeline (start/end dates)
      • Company information
      • Use of proceeds

  2. Compare against your notes or records from the previous review

Step 6: Assess the Impact of Changes​

  1. For each identified change, assess:

    • Compliance impact: Does this change affect regulatory compliance?
    • Investor impact: Would this change materially affect investor decisions?
    • Consistency: Is this change consistent with other deal information?
    • Quality: Does this change improve or diminish the overall deal quality?

  2. Categorize changes as:

    • Minor/administrative (no significant impact)
    • Substantive but acceptable (material but compliant)
    • Problematic (raises new compliance concerns)

Step 7: Document Your Review of Changes​

  1. As you review changes, document your observations:

    • Click on the "Comments" tab
    • Note which changes you've reviewed
    • Record your assessment of each significant change
    • Indicate if any changes raise new concerns

  2. This creates a clear audit trail of your review process

Step 8: Request Clarification if Needed​

  1. If you need more information about certain changes:

    • Use the comment function to ask specific questions
    • Request explanation of the rationale behind significant changes
    • Ask for additional documentation if necessary

  2. Example:

    I notice you've updated the financial projections in the business plan. 
    Could you please explain the basis for the revised revenue forecasts, 
    particularly the 40% increase in Year 2 projections?

Step 9: Determine if Re-Approval is Necessary​

  1. Based on your review of the changes, determine if:

    • The changes are minor and don't require formal re-approval
    • The changes are substantial but acceptable, requiring acknowledgment
    • The changes raise new issues requiring full re-review and approval

  2. Follow platform guidelines on which types of changes trigger mandatory re-approval

Step 10: Take Appropriate Action​

  1. Based on your determination, take one of these actions:

    • Acknowledge minor changes: Note that you've reviewed and accepted minor updates
    • Approve substantive changes: Formally approve acceptable substantive changes
    • Request modifications: Ask for changes to problematic updates
    • Reject: In rare cases, reject changes that create serious compliance issues

  2. Use the appropriate platform function for your selected action:

    • Comment function for acknowledgments
    • Approve button for formal approvals
    • Comment function for modification requests
    • Reject button for rejections

Step 11: Monitor Ongoing Changes​

  1. For deals with frequent updates:

    • Set a regular schedule to check for new changes
    • Configure notification settings to alert you to updates
    • Consider flagging these deals for closer monitoring

  2. Pay special attention to deals approaching critical milestones:

    • Launch date
    • Closing date
    • Funding targets

Step 12: Document Final Status​

  1. After completing your review of changes:

    • Update your internal records
    • Note the current status of the deal
    • Document any outstanding items requiring future attention
    • Record the date of your review

  2. This helps maintain a complete history of the deal's evolution

Best Practices​

  • Stay Current: Review changes promptly when notified
  • Be Thorough: Don't assume changes are limited to what the issuer highlights
  • Compare Systematically: Use a structured approach to compare versions
  • Focus on Material Changes: Pay most attention to changes that impact compliance or investor decisions
  • Maintain Records: Keep detailed notes on what changed and your assessment
  • Be Consistent: Apply the same standards to changes that you applied in initial reviews
  • Communicate Clearly: Provide specific feedback about changes
  • Understand Context: Consider why changes were made and their overall impact
  • Use Tools: Leverage any document comparison or change tracking tools available
  • Escalate When Necessary: Involve senior team members for significant or concerning changes

Troubleshooting​

Common Issues​

  1. Difficulty Identifying Changes

    • Solution: Ask the issuer to provide a summary of changes
    • Solution: Use document comparison software if the platform doesn't have built-in tools
    • Solution: Review the most commonly changed sections first (terms, financials, etc.)

  2. Undisclosed Changes

    • Solution: Conduct thorough comparisons rather than relying on issuer disclosures
    • Solution: If you find undisclosed changes, ask the issuer to explain all modifications
    • Solution: Consider implementing a change disclosure requirement for issuers

  3. Frequent or Excessive Changes

    • Solution: Establish clear guidelines on the change process
    • Solution: Implement a limit on the number or frequency of changes
    • Solution: Consider if frequent changes indicate underlying issues with the deal

  4. Conflicting Changes

    • Solution: Identify inconsistencies created by changes
    • Solution: Request the issuer to reconcile conflicting information
    • Solution: Provide specific guidance on maintaining consistency

  5. Platform Limitations in Tracking Changes

    • Solution: Develop your own system for tracking important deal elements
    • Solution: Request platform enhancements for change tracking
    • Solution: Use external tools to supplement platform capabilities

Getting Help​

If you encounter challenges while tracking deal revisions:

  1. Navigate to the /support Support center by clicking on the "Support" link in the main navigation
  2. Select the appropriate category for your issue
  3. Provide specific details about your challenge
  4. Submit your support request
  5. Support staff will respond through the platform's notification system