WSR 23-13-086

AGENDA

DEPARTMENT OF

FINANCIAL INSTITUTIONS

[Filed June 16, 2023, 10:38 a.m.]

Semi-Annual Agenda for Rules Under Development

July 1 - December 31, 2023

DIVISION OF CONSUMER SERVICES


•	Consumer Loan Act. Begin rule making under chapter 208-620 WAC to amend the rules to clarify requirements for the servicing of income share agreements that meet the definition of a student education loan, and for prudential standards related to the financial condition of residential mortgage loan servicers. Also, make technical and other changes as may be required by changes to state or federal law.
•	Uniform Money Services Act. Begin rule making under chapter 208-690 WAC to amend the rules for money services businesses to implement and clarify standards and practices relating to virtual currency in order to strengthen consumer protections. Also, make technical and other changes as may be required by changes to state or federal law.

DIVISION OF SECURITIES


•	Amendments to the 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.
•	Amendments to securities broker-dealer rules in chapters 460-20B, 460-21B, 460-21C, and 460-22B WAC. The rules in these chapters apply to securities broker-dealers and their representatives. Many of the rules in these chapters have not been updated in more than two decades. The securities division plans to propose amendments to these rules to bring them up-to-date with federal rules, incorporate NASAA model rules, and describe application filing procedures and requirements, among other possible updates.