The SEC’s Division of Investment Management issued an Information Update that describes the procedure for providing a version of an exemptive application marked to show changes from relevant precedent (in the case of an initial submission) or from a prior version of the same application (in the case of an amendment). The Information Update notes that marked versions considerably increase the efficiency of staff review. “[T]o ensure that [the Division’s staff] may confidently continue [its reliance on marked copies provided by applicants],” the Information Update instructs an applicant providing a marked copy to send the staff reviewer an email with the appropriate certification as follows:
Confirmation for initial filings: “I confirm that the marked version of the application attached to this email is a complete and accurate comparison of the application filed on Edgar on [DATE] (file no. 812-____) to the application of [NAME] filed on Edgar on [DATE] (file no. 812-____).”
Confirmation for amendments: “I confirm that the marked version of the application filed on Edgar is a complete and accurate comparison of the application filed on Edgar on [DATE] (file no. 812-____) to the immediately prior version of the application filed on Edgar.”