diff --git a/cad/033_log/README.md b/cad/033_log/README.md
index 77c2158..7cccc10 100644
--- a/cad/033_log/README.md
+++ b/cad/033_log/README.md
@@ -2,11 +2,12 @@
 
 ## Overview
 
-Convex provides an event log for on-chain events
+Convex provides a vaerifiable event log for on-chain events.
 
 The log is designed for events that may be consumed / observed by external observers interested in meaningful events in the CVM state. Typical use cases include:
 - Detecting transactions that represent transfers of assets to / from a specific account
 - Notifying observers of availability of smart contracts, e.g. opening of an auction
+- Alerting external observers to situations that may require action
 
 ## Specification
 
@@ -30,6 +31,39 @@ A log entry consists of:
 [address scope location [val1 val2 val3 ...]]
 ```
 
+### Interaction with rollbacks
+
+The log MUST NOT be apdated with any log entries created within code that was rolled back (either due to an explicit `rollback` or failure of some atomic expression or transaction).
+
+The reason for this is that the Log should only include *things that happened* rather than any operations that are rolled back.
+
+The log SHOULD NOT be used for error reporting or diagnostics. 
+
+### Conventional values
+
+Users of logging capabilities MAY log any values they wish. However by convention, and in order to facilitate standards in tool, the following conventions are recommended.
+
+The first log entry SHOULD by a short uppercase string value that describes the type of event. Common codes are:
+
+- "TR" = a transfer of an asset
+- "ALERT" = a warning that external action may be needed
+
+#### Transfers
+
+The standard for a transfer "TR" log event is:
+
+```clojure
+["TR" sender receiver quantity data]
+```
+
+Where:
+- `sender` is the account address of the asset sender
+- `receiver` is the acccount address of the reciever
+- `quantity` is the quanity of the asset transferred, as per CAD19
+- `data` is any additional data attached to the transfer (e.g. a map containing a payment reference)
+
+Transfer events of this type SHOULD be emitted by the actor implementing the asset, with a `*scope*` set as appropriate.
+
 ### Log Data
 
 The log is a flat Vector of all log entries of all blocks up to the current consensus point.
@@ -59,4 +93,4 @@ Peers MAY maintain additional indexes as relevant for their users.
 
 The following lookup paths may also enable efficient access to relevant information:
 - Log entry -> block -> transaction -> transaction details (e.g. `*origin*`)
-- Log entry -> block -> historical state -> state after block completion (includes `*timestamp*` etc.)
\ No newline at end of file
+- Log entry -> block -> historical state -> state after block completion (includes `*timestamp*` etc.)