1. Applicant presents SL documents to LU OD.

(In some cases, the SL documents are not ready, with the applicant not knowing that the Purpose being applied for requires SL; LU OD gives applicant CORs)

3. LU SS evaluates 4 sets of SL documents vis-à-vis COR.

(If with deficiencies, LU SS retains the originals and returns 3 copies to applicant, with the COR citing deficiencies.)

(Per experience, it takes time for applicant to fully comply with the requirements.)

4. LU AD reviews the application

(If still with deficiencies, applicant is given another COR citing the deficiencies; application is returned to applicant for compliance.)

7. Upon receipt of SL documents from CFRD, LU SS re-evaluates the SL documents; prepares and initials the CA

(If with deficiencies (e.g., documents evaluated different from what was received by CFRD; missing documents), applicant is called for conference, given another COR citing the deficiencies; SL documents are returned to the applicant for compliance.)

CA vis-à-vis

all documents required vis-à-vis compliance with pertinent laws and SEC rules and regulations

CA vis-à-vis consistency with

all documents required

CA vis-à-vis consistency with

all documents required