Fall Regulatory Summit

Internal Use Only

Licensing Requirements Framework

License-Specific Requirements: Information that is required by the state agency for their license type. All companies obtaining the state’s license through NMLS must complete these requirements. State-Specific requirements are configured by state agencies. Cannot be duplicative to other requirements in system. Goal is to minimize these.

License Specific

Business-Specific Requirements: Information that is generally required for licensing of a business type. All companies obtaining a license in that business through NMLS must complete these requirements. Business-Specific requirements are not configurable by state agencies and should be universal to companies offering services or products in that business.

Business-Specific

Core Requirements: Basic information that all entities are required to provide. CORE Requirements may differ from entity type to entity type (example: Company vs. Individual). CORE Requirements are not configured by state agencies and should be universal to all non-depository financial service companies.

Core

Internal Use Only

What are the Key Provisions of the Proposal?

Document Requirements

Business Activities

Contacts

Periodic Reporting Data Requirements

Company Operated Work Locations’ Information

Required Functionality

Key Individual Requirements

Location Reporting