Documenting the Investigation

What this video covers

• Why doing the underlying investigation and documenting the investigation are two separate requirements, not one automatic byproduct
• The six specific elements useful records must contain: meetings held, tasks performed, documents and information reviewed, results of reviews, dates events occurred, and who attended or conducted them
• How to categorize any record into process (timeline, meetings, tasks, dates, attendees) or results (documents reviewed, findings) and why half the record is basically no record
• Why documentation must cover meetings with parties beyond the issuer, including third parties like suppliers, experts, or regulators, not just the sponsor selling the offering
• The exact "we did the work" trap wording the exam uses to test whether you know that underlying work without a written record fails to demonstrate reasonableness
• How to evaluate scenario-based questions where a rep performed extensive due diligence but kept no file, and why that investigation still fails the reasonableness test