It is established etiquette by the Joint Chiefs of Staff, United States Department of Defense, the U.S. Army, the U.S. Navy, and the U.S. Air Force that the closing “Respectfully yours” be reserved for the President of the United States (according to U.S. Army standards, this also extends to the first lady and the President_elect).
The second version is clearer and thus preferable. Of course, there are exceptions to every rule. What if you are the head of the Global Finance Team? You may want to get your message across without calling excessive attention to the fact that the error was your team’s fault. The passive voice allows you to gloss over an unflattering point—but you should use it sparingly.