877-218-1776 
All Definitions »Deficiency Letter
Deficiency Letter Meaning & Definition
Pass Rate
Over 25 years and 400,000 exams
Assured Success
If you use our practice exams
Chat & Call Support
We are with you every step of the way
Definition of Deficiency Letter
Deficiency Letter is a letter sent to a corporate issuer by the SEC, requesting additional information regarding the issuer’s registration statement.
Applying "Deficiency Letter" to Securities Exams:
When an issuer wants to sell non exempt securities to the public they will file a registration statement with the SEC. The registration statement formally known as an S1, is the full disclosure document provided to the SEC. If the SEC wants more information or clarification regarding the information, the SEC will issue a deficiency letter. Once the issuer receives the deficiency letter the issuer must respond to the request for information. The receipt of the deficiency letter will extend the cooling off period for the securities.