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How to Address Broker Comments and Requests

Overview​

After submitting your deal for review, the platform's broker team will evaluate your offering for compliance, completeness, and clarity. During this review process, brokers may provide comments, ask questions, or request changes to various aspects of your deal. Responding effectively to this feedback is crucial for obtaining approval and moving your offering to the live fundraising stage. This guide will walk you through the process of receiving, understanding, and addressing broker feedback efficiently.

Prerequisites​

Before addressing broker comments and requests, you should:

  • Have an active issuer account on the platform
  • Have submitted your deal for review
  • Have received notification of broker feedback
  • Have access to the team members and resources needed to implement requested changes
  • Understand the regulatory context of your offering

Step-by-Step Instructions​

Step 1: Access Broker Feedback​

  1. Log in to your issuer account
  2. Navigate to your "Deals" dashboard
  3. Find your submitted deal and note its status (e.g., "Under Review" or "Revision Requested")
  4. Click on the deal name to access the deal details
  5. Select the "Comments" or "Notes" section to view all feedback from brokers and admins

Step 2: Review Feedback Overview​

The Broker Feedback section provides an overview of:

  1. Feedback Summary

    • Overall status of your review
    • Number of items requiring attention
    • Categorization of feedback by severity and type
    • Deadline for responding to feedback

  2. Review Timeline

    • Submission date
    • Initial review date
    • Current review stage
    • Estimated completion timeline

Step 3: Understand Feedback Categories​

Broker feedback is typically categorized as:

  1. Critical Issues

    • Regulatory compliance concerns
    • Material discrepancies or omissions
    • Legal document deficiencies
    • Must be addressed before approval

  2. Required Changes

    • Important modifications needed
    • Clarifications on offering terms
    • Document updates or additions
    • Must be addressed before approval

  3. Recommendations

    • Suggestions for improvement
    • Best practice advice
    • Optional but beneficial changes
    • May be implemented at issuer's discretion

  4. Informational Notes

    • General comments or observations
    • Educational resources
    • No action required

Step 4: Review Individual Feedback Items​

For each feedback item:

  1. Click on the item to expand its details

  2. Review:

    • The specific section, document, or parameter referenced
    • The nature of the issue or request
    • Any regulatory citations or references
    • Suggested resolution approaches
    • Attached examples or templates (if provided)

  3. Use the "Ask for Clarification" button if the feedback is unclear

Step 5: Prioritize Your Responses​

Develop a response plan based on:

  1. Urgency

    • Address Critical Issues first
    • Then move to Required Changes
    • Finally consider Recommendations

  2. Complexity

    • Identify items requiring external consultation
    • Note items requiring significant revisions
    • Flag items needing team discussion

  3. Dependencies

    • Identify items that must be addressed before others
    • Group related items that should be addressed together

Step 6: Respond to Each Feedback Item​

For each item requiring action:

  1. In the Comments/Notes section, locate the specific feedback item

  2. Click the "Reply" button below the comment

  3. Choose your response approach:

    • Confirm you'll implement the requested changes
    • Provide clarification about existing information
    • Explain why you believe the request doesn't apply to your situation
    • Ask follow-up questions if you need more information

  4. Enter your response in the text field

  5. Attach any supporting documentation if needed using the attachment icon

  6. Click "Submit" or "Post Comment"

Step 7: Make Required Changes​

Based on the feedback:

  1. Navigate to the relevant section of your deal:

    • Click "Edit Deal" from the broker feedback page
    • Select the specific section needing modification

  2. Make the requested changes:

    • Update deal parameters
    • Revise document content
    • Add missing information
    • Upload new or revised documents

  3. Save your changes

  4. Return to the Broker Feedback page

Step 8: Request Support (If Needed)​

For complex issues or when you need additional assistance:

  1. Navigate to the /support Support center by clicking on the "Support" link in the main navigation
  2. Select the appropriate support category related to deal feedback
  3. Provide details about your specific question or concern
  4. Reference your deal ID and the specific feedback item you need help with
  5. Submit your support request
  6. Support staff will respond through the platform's notification system

Step 9: Track Response Status​

After responding to feedback items:

  1. Monitor the status of each item:

    • Pending Broker Review: Your response is being evaluated
    • Resolved: The issue has been satisfactorily addressed
    • Further Action Required: Additional changes needed
    • Under Discussion: Being discussed in consultation

  2. Check for new feedback items that may be added during the iterative review process

Step 10: Submit Revised Deal​

Once you've addressed all Critical Issues and Required Changes:

  1. Review the entire deal for consistency after making changes
  2. Run the validation check to ensure all requirements are met
  3. Click "Submit Revised Deal" to return the deal for final review
  4. Confirm your submission in the dialog box

Best Practices​

  • Respond Promptly: Address feedback in a timely manner to avoid delays in your offering timeline
  • Be Thorough: Provide comprehensive responses that fully address the concerns raised
  • Maintain Professionalism: Keep communications constructive and focused on resolving issues
  • Consult Experts: Involve legal, financial, or technical experts when addressing specialized feedback
  • Document Changes: Keep records of all modifications made in response to feedback
  • Seek Clarification: Don't hesitate to ask for clarification on feedback you don't fully understand
  • Consider the Spirit: Address the underlying concern, not just the specific request
  • Be Consistent: Ensure changes in one area don't create inconsistencies in others
  • Learn for Future Deals: Use feedback as a learning opportunity for future offerings

Troubleshooting​

Common Issues​

  1. Unclear Feedback

    • Solution: Use the "Ask for Clarification" button to request more specific information
    • Solution: Review the knowledge base for articles related to the feedback topic

  2. Disagreement with Feedback

    • Solution: Request a consultation to discuss your perspective
    • Solution: Provide regulatory references or precedents supporting your position

  3. Technical Difficulties Making Changes

    • Solution: Use the "Technical Support" option in the help menu
    • Solution: Check the platform status page for any known issues

  4. Complex Regulatory Requirements

    • Solution: Request guidance from the platform's compliance team
    • Solution: Consider engaging external regulatory counsel

  5. Conflicting Feedback

    • Solution: Highlight the conflict in your response
    • Solution: Request clarification on which approach to prioritize

Getting Help​

If you encounter any issues while addressing broker feedback:

  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:
    • "Deal Review Process" for general feedback questions
    • "Compliance" for regulatory questions
    • "Documents" for help with document revisions
  3. Provide specific details about your issue, including your deal ID
  4. Submit your support request
  5. Support staff will respond through the platform's notification system