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The Electronic Filing Repository. NASAA ’ s 2011 Corporate Finance Training Seminar. Jack Herstein, NE Department of Banking & Finance Willie Neumann, Willie Neumann Co., LLC. Embassy Suites Florida. Committee Members. NASAA ’ s 2011 Corporate Finance Training Seminar.
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The Electronic Filing Repository NASAA’s 2011 Corporate Finance Training Seminar • Jack Herstein, NE Department of Banking & Finance • Willie Neumann, Willie Neumann Co., LLC Embassy Suites Florida
Committee Members NASAA’s 2011 Corporate Finance Training Seminar • Jack Herstein, NB Co-Chair • Melanie Lubin, MD Co-Chair • Sue Largman, NJ • Faith Anderson, WA • Heath Absure, AR • Kara Kennedy, TX • Tina Stavro, NASAA Corp • Jason Wolf, NASAA Corp Embassy Suites Florida
Steps to completion NASAA’s 2011 Corporate Finance Training Seminar • Create a RFP • Put project to bid • Review responses • Select Development Partner • Agree upon Design Document • Begin Development process Embassy Suites Florida
Project Developer NASAA’s 2011 Corporate Finance Training Seminar • BNY • Kevin Caravella, BNY • Emmanuel Edi, BNY • Created and supports Blue Express • Functionality similar to Blue Express Embassy Suites Florida
Data NASAA’s 2011 Corporate Finance Training Seminar • Following the XML document format defined by SEC • EFD will provide reporting for states and firms • Export of XML for import into State and 3rd party systems • NASAA will not build connectors to State or 3rd party systems • EFD will provide reconciliation reports for states Omni Jacksonville Florida
Payment NASAA’s 2011 Corporate Finance Training Seminar • Firms will send EFD payments via ACH transactions • States can define frequency of payment • Daily • Weekly • Payments will be deposited in State Accounts with reconciliation reporting • Credit card payment not supported due to transaction fees • Fees will be calculated based on state fee structure Omni Jacksonville Florida
Filing types supported NASAA’s 2011 Corporate Finance Training Seminar • At launch 506 filings supported • Future release contemplates support of 505 filings, but not 504 • Interest from Franchise and Form NF for future support Omni Jacksonville Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Filer screens Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
State screens NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida
Timeline NASAA’s 2011 Corporate Finance Training Seminar • August: testing with pilots and select firms • September: Go live with pilot states and firms • October-November: Rollout for full paticipation Embassy Suites Florida
State Preparation NASAA’s 2011 Corporate Finance Training Seminar • Consider existing rules • Accept electronic filing as filing of record • Accept EFD language in place of U2 requirement Embassy Suites Florida
Questions NASAA’s 2011 Corporate Finance Training Seminar Embassy Suites Florida