The issuer review checklist.

The questions, documents, and responsibilities to work through with your company’s legal team.

Discussion draft · 12 September 2026

0 of 21 questions considered

Use this to organize a conversation, not to certify readiness or compliance. Selections stay in this page and clear when you reload.

01 · Asset and ownershipWhat exact class, unit ratio and underlying custody position correspond to each entitlement?Which entity is the registered holder, and which entity owes the participant’s Article 8 duties?Which signed terms establish governing law and the legal effect of the token and entitlement records?

02 · Company and third-party authorityWhich direct, indirect or beneficial transfers do the governing restrictions cover?Which parties hold each consent, ROFR or co-sale right, and how was each addressed?What activity falls within the authorization, and what change requires a new approval?

03 · 409A valuation and option grantsHow do the executed interest’s economics, aggregate transaction activity and available information compare with the stock and assumptions in the current valuation?Has the valuation adviser documented the effect on continued reliance, any refreshed assessment, concluded FMV and future grant dates?Do recurring liquidity or actual quotation and market-making arrangements change marketability assumptions or the applicable tax valuation framework?

04 · Offer, resale and informationWhich registration or exemption applies to this actual issuer or seller transaction?What purchaser, seller-history and information evidence satisfies that route?What separate quotation, disclosure, holder-counting and tender-offer analyses apply?

05 · Providers and permissionsWho performs transfer agency, brokerage, venue operation, custody and cash handling?What registrations, memberships, operating scope and agreements support each assigned function?What customer-protection and insolvency regimes apply to the actual asset and account relationship?

06 · Execution, settlement and recoveryWhat establishes the transferable quantity, execution, settlement date and completed payment?How do trade, cash, entitlement and custody records reconcile?Who can correct an ineffective instruction, resolve a failed trade or address missing assets?

07 · Rights and exitHow do holders receive distributions, exercise voting instructions and pursue information rights?How are record dates, class changes and corporate actions reflected across the records?What available, eligible exit routes exist, and what permissions, timing and costs apply?

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