WSR 21-01-146

AGENDA

DEPARTMENT OF

FINANCIAL INSTITUTIONS

[Filed December 17, 2020, 11:52 a.m.]

Semi-Annual Agenda for Rules Under Development

January 1 - June 30, 2021

DIVISION OF BANKS


•	Propose rules regarding a reformulation of assessments and fees for trust companies that provide crypto-asset custody services. The rules that will be amended are WAC 208-544-020 and 208-544-030.

DIVISION OF CONSUMER SERVICES


•	Consumer Loan Act. Begin rule making under chapter 208-620 WAC to amend the current rules to allow mortgage loan originators (MLOs), under certain conditions, to work from home locations without requiring the sponsoring company of the MLOs to license the home location as a branch of the company. This rule making will commence only if the agency proposed implementing legislation passes and becomes law.
•	Mortgage Broker Practices Act. Begin rule making under chapter 208-660 WAC to amend the current rules to allow MLOs, under certain conditions, to work from home locations without requiring the sponsoring company of the MLOs to license the home location as a branch of the company. This rule making will commence only if the agency proposed implementing legislation passes and becomes law.

DIVISION OF SECURITIES


•	Amendments to small company offering registration (SCOR) rules in chapter 460-17A WAC. SCOR rules set forth in chapter 460-17A WAC are based on a statement of policy adopted by the North American Securities Administrators Association (NASAA). NASAA amended this statement of policy on May 19, 2019. The securities division plans to amend its related rules in chapter 460-17A WAC to align with the updated NASAA statement of policy.
•	Repeal of the mortgage paper securities registration rules in chapter 460-33A WAC. The rules set forth in chapter 460-33A WAC provide an optional method of registration for offerings of mortgage paper securities. An offering has not been registered under these rules since 2013. Changes in federal laws since that time eliminate the utility of these rules. Accordingly, the securities division plans to repeal these rules.