WSR 15-09-131

PREPROPOSAL STATEMENT OF INQUIRY

[Filed April 21, 2015, 4:33 p.m.]

Subject of Possible Rule Making: The securities division is considering creating rules that would codify the renewal application requirements for securities registered by coordination under RCW 21.20.180 and securities registered by qualification under RCW 21.20.210.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 21.20.180, 21.20.210, 21.20.260, 21.20.340, and 21.20.450.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: An offering of securities may be registered in Washington by coordination or qualification for an initial period of twelve months. The Securities Act of Washington specifies the requirements for filing an initial application to register securities, but it does not specify the requirements of a renewal application. The securities division is considering proposing rules that would codify the renewal requirements that are routinely applied to registered offerings. By creating rules to specify the filing requirements for renewal applications, the securities division will provide necessary information to securities issuers.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: At the federal level, the United States Securities and Exchange Commission regulates the offer and sale of securities under the Securities Act of 1933. Washington regulates the offer and sale of securities under the Securities Act of Washington, which contains registration provisions designed to coordinate with the Securities Act of 1933. The rules we are considering proposing under the Securities Act of Washington will therefore coordinate with existing federal securities laws.

Process for Developing New Rule: The securities division is soliciting comments from interested persons and will adopt rules only after the consideration of public comments.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Jill Vallely, Department of Financial Institutions, Securities Division, P.O. Box 9033, Olympia, WA 98507-9033, phone (360) 902-8801, fax (360) 704-7035, e-mail jill.vallely@dfi.wa.gov.

April 16, 2015

William M. Beatty, Director

Securities Division